Seasoned Events pre-tax profits see 583% spike in 2012

Seasoned Events saw pre-tax profits in 2012 grow by 583% despite a dip in turnover, the company has announced.

The catering and events firm, a division of Crown Group, reported un-audited pre-tax profit figures of £553,000 for the period, which it said was partly down to the Olympics and Jubilee celebrations. Profit for 2011 was £81,000.

But while pre-tax profit rocketed the company's annual turnover fell from £6.5m in 2011 to £5.5m in 2012.

Commenting on the figures, managing director Colin Sayers remained confident that Seasoned Events will maintain growth this financial year.

"We had a great 2012, which was partly due to the Olympics. Sales were lower than expected in the early part of the year; however we benefited from London 2012 with several lucrative contracts and events and our post-Olympic sales spiked to ensure that our sales were as high as they have been since 2008," he said.

"We have a successful business model which has allowed us to improve the quality of our offer, invest in our product and increase the size of our team whilst still offering value for money to our clients and exceeding the KPI targets for our venue partners."