ELLESMERE Port firm Event Marketing Solutions (EMS) continued with investment while reducing its debt levels in 2009.
It spent £500,000 on equipment to be able to deliver European roadshows, of which £364,000 was financed by hire purchase.
Total debt decreased by £242,000 to £1.12m after EMS made capital repayments of more than £600,000 on hire purchase debts.
These payments improved its gearing by 21 percentage points, to 121.5%. Shareholders’ fund stood at £918,000.
Turnover was down 13% to £4.3m in 2009, while pre-tax profits fell 44% to £210,000.
EMS, which is 95% owned by managing director Keith Austin, paid dividends of £176k.
In its annual accounts filed at Companies House, its directors said: “Investment in sales and marketing activity continued on a highly targeted basis in 2009, together with investments in the website, the marketing programme was far stroner.
“As a result, the new business pipeline is very strong, up 100% on the previous year, and the outlook for 2010 is robust, with 66% of business contracted for 2010. The directors are optimistic about growth in the current economic climate, but are cautious to avoid economic risks.”
Alex Turner
