Irish PR agency Drury posts double-digit rise in turnover
But profits down at Drury Porter Novelli due to investments in staffing and systems
Drury Porter Novelli managing director Anne-Marie Curran. Photograph: Jason Clarke
Leading Irish public relations agency Drury Porter Novelli recorded a double-digit increases in its turnover last year although its profit declined as it invested in staffing and systems.
Accounts just filed by Drury Communications Ltd show an increase in turnover of 11 per cent to €3.44 million as the business benefitted from increased levels of client activity in the Irish economy.
However, its profit for the year declined to €451,722 from €504,601 in 2016, largely the result of an increase in administrative expenses to just under €792,000.
Retained profits at the agency, which is owned by New York-based communications giant Omnicom, rose to €1.4 million from just under €960,000 in 2016.
Drury closed 2017 with 28 staff, up from 26 in the previous year. Wages and salaries rose by 39 per cent to just under €1.2 million, while total employment costs increased by 14 per cent to almost €2.4 million, the abridged accounts show.
Within these costs, directors’ remuneration reduced to €910,416 from €961,510.
Drury added the Road Safety Authority to its client base last year, while also advising on the AIB initial public offering of shares, and expanding its work with Irish listed housebuilder Cairn Homes. Other clients include building materials group CRH, bookmaker Paddy Power Betfair, and global fast food operator McDonald’s.
Commenting on the results, Drury’s managing director Anne-Marie Curran said: “We had a good year in 2017 and business has been very strong so far this year. The market is good, reflecting strong levels of growth in the economy.”
Ms Curran has been lined up as a speaker at the ICCO global PR summit at Clontarf Castle in Dublin next week, where she will address the topic of “staying recession proof”.