Profits up at Ten Alps as advertising arm performs well
LONDON - Bob Geldof's advertising and events company Ten Alps Communications has seen profits rise by 48% to £176,000 for the first half of the year.
The group, which includes the advertising agency Ten Alps RMA, the events division Ten Alps Events and the recently acquired production company Brook Lapping, saw turnover rise by 44% to £5.42m. Net profit fell from £71,000 to £6,000 for the six months ending September 30.
The company said that its advertising agencies Ten Alps RMA and MTD have "significantly outperformed last year". Ten Alps RMA is the Hampshire-based agency that specialises in maritime clients, including Sunsail Holidays, Moody Yachts and the Maritime and Coastguard Agency. It also holds the account for Stannah Stairlifts and worked on the DTI's fireworks safety campaign.
However, Ten Alps Events was underperforming compared with last year.
Brian Walden, the television presenter and chairman of Ten Alps, said: "We have substantially boosted our overall revenues over a summer period, which is traditionally quiet in one of our key divisions, events. And looking forward, the major addition of Brook Lapping without dilution of existing shareholders could provide a further impetus in revenues and earnings per share."
Ten Alps was co-founded by the former Boomtown Rat Bob Geldof KBE and chief executive Alex Connock in 1999. It became a public company via a reverse takeover in July last year and is listed on London's AIM.
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