Murrays see pretax profits surge 63% to over €670,000

PRETAX PROFITS at public relations firm Murray Consultants jumped by 63 per cent last year to just over €670,000, driven in part by tight cost management and an increase in crisis management and brand work.

Turnover for the year to December 31st 2010 was €4.1 million, down from the figure of €4.4 million recorded the previous year. Operating profit increased by 52 per cent to €658,726 up from €432,462 in 2009.

Managing director Pat Walsh described the performance as “very strong” in light of the economic climate. The 2010 performance signalled “a return to a strong, sustainable level of profit”, he said.

Pretax profits at Murray more than halved in 2009 to €411,806, having reached €946, 012 in 2008.

The company’s crisis management division, which includes work on company restructurings and debt resolution, was one of the key drivers of growth for the company. It also expanded its consumer and digital presence.

Murrays’ clients include Tullow Oil, Grafton, Glanbia, Kelloggs and Cadbury.

The company secured in excess of two business wins per month on average in 2010. Among the clients secured during the year were Skoda, Love Irish Food, One51 and CheckRisk.

Murrays ended its 15-year relationship with Ryanair last year. Its work with long-term client Independent News and Media (INM) has also been reduced after the appointment of an internal director of corporate affairs to INM.

Staff costs during 2010 totalled €2.15 million, down from €2.55 million the previous year.

Directors’ remuneration was €908,069, up from €843,289 in 2009.

Dividends of €558,592 were paid to shareholder-directors in 2010, up from €524,106 in 2009.