Haymarket Group has reported annual earnings of £14.8 million in the last financial year ending 30 June 2023. Accounts filed at Companies House show the total turnover in this period was £183.1 million, up 10% on the previous year of £165.9 million.
The company says its growth strategy has focused on a balanced portfolio of diversified revenues in its chosen markets, most notably medical, marketing-communications and automotive. The business relaunched its global sustainability strategy, Haymarket Impact, making a significant investment in accelerating its efforts to not only reduce its negative footprint, but to maximise its positive influence, through its expert, remarkable content and the powerful partnerships it holds around the world.
Haymarket – which owns more than 70 brands including Campaign, What Car?, MyCME, GP and Asian Investor, has offices in the UK, US, Canada, Germany, the Netherlands, Hong Kong, Singapore and India.
Kevin Costello, chief executive at Haymarket Group said: “Today’s results reflect our continuing investment in the long term sustainability of the business as we accelerate our growth plans, both through organic new product development and acquisitions. A prime example of this is circa £40m of revenues attributed to brands that did not exist 5 years ago. This is testament to our expert knowledge, creativity and innovation.
"Were it not for these significant investments and those we have made in platforms and emerging technologies, our profits would have been up, year on year.”
Rupert Heseltine, chairman of Haymarket Group added: “It has been another strong year for Haymarket and the success ultimately comes down to our 1300+ employees working across our global offices. Being a privately held, family-owned business, we pride ourselves on our people, culture and values being right at the heart of how we do business.
“It is testament to the exceptional talent we employ at Haymarket that we are reporting a healthy profit today, and can continue to expand, explore new acquisition opportunities and accelerate the pace of growth.”
Haymarket says it is again forecasting turnover growth in the current financial year ending 30 June 2024. Today over 60% of company revenue is generated from outside the UK, with the US business being the single largest, accounting for more than half (52%) of total revenues.
Looking at the upcoming year for Haymarket, Costello added: “The business is in great shape, despite the challenging economic environment and global uncertainties. We are set up for the long-term, protecting the interests of not only our shareholders, but our communities and the environment, through Haymarket Impact.
“We will keep diversifying the revenues using data to power the business, inform decision-making and explore new opportunities. At the halfway point in our current financial year, we are on track for another successful year.” concludes Costello.
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