Saturday 17 February 2018

Murray Consultants profit jumps to €627,000

Murray Consultants one of Ireland's biggest PR firms
Murray Consultants one of Ireland's biggest PR firms
John Mulligan

John Mulligan

Irish public relations firm Murray Consultants posted a €627,000 pre-tax profit last year, up from just over €355,000 in 2014, newly-filed accounts for the business show.

The firm - one of Ireland's biggest PR outfits - also paid a €650,000 dividend in the period to shareholders, who include managing director Pat Walsh and Pauline McAlester. Mr Walsh is the single biggest shareholder.

The company had paid a €470,000 dividend in the previous financial year, when operating profits were close to €1m.

Turnover at the business rose 11pc last year to €4.8m.

Clients include State Street, Grafton Group, Tullow Oil, and Kingspan. It also secured work this year with The Referendum Commission, Ulster Bank, Digicel, Hammerson and Centre Parcs.

Mr Walsh said he was "very pleased" with the 2015 performance and that the underlying performance was stronger than the profit figure suggests, given that the firm incurred substantial investment expenditure last year. "Growth has continued post year end and based on current trading we anticipate an even stronger 2016," he said.

Investment by the firm last year included costs associated with the relocation of its office within Dublin city centre, and acquiring a new digital and creative services team. It also spent money developing its presence in London - all part of a €1.5m investment programme initiated by Mr Walsh.

The firm employs about 40 people. Its wages and salaries bill last year rose 13pc to €2.1m.

Accounts for the business note that the improving economy has seen a "noticeable uptick" in brand and consumer assignments, and digital and creative services.

"Investment in these areas over recent years leaves Murray well-placed to benefit from a very welcome return to favour of integrated services, ensuring client communications are aligned and consistent across platforms and stakeholders," the directors' notes add.

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