Oxford International Celebrates Best Year to Date (11/02/2009)
Oxford International is delighted to join the ranks of event agencies that have reported decent results for 2008. Having been founded in 1990, the company that now enjoys the reputation of industry veteran, celebrated its best year to date at the end of its financial year on 31 December.
With sales of just over £6m and pre-tax profits of £200,000, Oxford International’s two decades of experience seems to have stood the company in good stead.
John Walker, Managing Director, Oxford International, commented, “2008 was a great year for us. We have a strong base of long-standing clients, the majority of which are in the pharma sector, which proved to be pretty recession resilient last year.”
Whilst the company can also announce that it is starting the year with a similar level of confirmed sales figures on the books as it kicked off with in 2008, it is only too aware that in the current climate the market is aggressive and unpredictable.
John Walker added, “We are entering 2009 cautiously, but optimistically. We’re starting the year in a very strong position. We have lots of confirmed business on the books and a good sales pipeline. I’d be more than happy if we maintain last year’s business levels.
“We know we’re going to have to work harder than ever if we’re going to achieve our targets. We may have survived the last recession, but we’re not being complacent on entering this one.”
The company has recently put in place a number of tactical measures designed to further improve the quality of its customer service and its performance in relation to ROI measurement.
John commented, “The economic downturn means clients are far more budget conscious and need more than ever to evaluate the success of their events. In response we need to prove that we offer value for money. We’re not going to go the route of dropping prices to attract new business. That undervalues our services. Instead we’re focusing on our own standards and processes and we’re kicking off 2009 with slicker, smoother operation and a new internal structure designed to enhance our client relationships and address the needs of ROI.”
Whist Oxford International is celebrating a bumper year, the fate of similarly named Oxford Motivation risked tarnishing the event company’s good reputation. When Oxford Motivation’s parent company, Indeprod, went into liquidation last week, an ‘over enthusiastic’ rival agency approached one of Oxford International’s long-standing clients and attempted to poach the business, claiming Oxford International had gone into receivership.
John Walker, commented, “Fortunately our client was kind enough to contact us to make us aware of the situation. It was purely a case of mistaken identity, but obviously I’m now concerned that rumours will be circulating and our reputation will be damaged. I’d like to reassure clients and suppliers that we have nothing to do with Oxford Motivation, it’s just a coincidence of name.”