STW Group looks to increase profits 15% this year

STW Group looks to increase profits 15% this year

The STW Group is looking to expand profits by 15% next year after it posted “resilient and consistent” growth with revenues up by 10% and profits by 6.5% in 2012.

Revenues were up to $357.8M from $322.7m, with profits hitting $44m, although net debt has increased to $138.5m from $106.6m, on the back of a series of acquisitions last year.

CEO Michael Connaghan said the plan of owning multiple agencies across a number of disciplines was paying dividends for the group.

He added: “As advised to the market previously, STW has a three pillared strategic growth focus; to drive growth out of our leadership positions in Australia and New Zealand; to continue to grow and dominate in digital; and to selectively and carefully export our footprint into new markets in Asia. During the second half of 2012, we have continued to make excellent progress on these strategic goals.

“This strategy, while we continue to fine‚Äêtune and evolve its implementation, is clearly working and we are confident of our ability to accelerate our industry leading position.”

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