SELF-APPOINTED observer of the marketing services scene, accountancy firm Willott Kingston Smith
, has published its annual survey of direct agencies’ financial results. The findings make mainly gloomy reading. Says WKS partner Steve Waring: ‘What we are seeing this year is a general industry-wide increase in activity and salaries at the expense of profit margins.’ Among the casualties are Brann
, whose operating profit dived by 93% - a drop of £2.829m - whilst GGT Direct
saw its gross income slide by £3.9m. Revenues at Aspen Direct and Craik Jones Watson Mitchell Voekel
declined 94% and 98% respectively, and Limbo reversed last year’s £324k profit into a loss of (£279k). Bucking the trend were WWAV Rapp Collins, Grey Integrated, Tequila London and Evans Hunt Scott Eurocom
- all recording increases of 50% or better.