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Global strategic communications group SEC Newgate has reported an audited gross profit of £48.34 million for the year ended 31 December 2020. Net profits stand at £3.6 million.
Operationally, the group launched TRUE, its proprietary, innovative AI reputation monitoring and assessment system during the period, and established SEC Newgate US LLC in the United States in partnership with Mike Holtzman, Bellwether Strategies.
Commenting, John Foley, chairman, said: "The fact that the new Group delivered results in line with management expectations is a testament to the proactive steps taken to manage and mitigate the impact of the pandemic.
The results demonstrate the power of the team's adaptive entrepreneurial spirit, collaborative approach and constant focus on the quality of the services we provide. The Group is in a strong financial position with a significant secured pipeline and a strong leadership team.
The Group's turnover, profitability, margins and retention rates remain high. The outlook is, therefore, exciting despite the uncertainties caused by Covid-19 and we face the future with both confidence and enthusiasm."