Marketing communications group MSQ Partners has welcomed a bumper set of financial results for the past year after recording a 10% year-on-year rise in revenues to £82.3m, driven in large part by clients electing to work with multiple MSQ agencies.
The double-digit growth rate was reflected in headline operating profit which skyrocketed 47.6% to £5.9m across the full MSQ family, which includes The Gate, Holmes & Marchant, Smarts, Stack, Stein IAS and twentysix.
Fully 80% of all London revenue is now attributed to clients taking full advantage of this multi-disciplinary offer following a change in working practices and structural improvements.
Peter Reid, chief executive of MSQ Partners, said: “They [the results] are a testament to the brilliant people we have throughout the business and further demonstrate the power of our market-leading multi-disciplinary model. We are still firmly of the belief that this is the early stages of our journey and plan to continue to both grow and invest in the coming years.”
MSQ’s balance sheet has been further fattened by investment from private equity firm LDC, which valued the group at £37.5m.