Best ever results for Cube3

Best ever results for Cube3

Manchester’s Cube3 has reported its best ever half year trading results, showing an increased turnover to £1.3 million for the first six months of 2016.

The agency is targeting a run rate of £3m by the end of the year, the highest in its 17-year history.

The strong results, which include an EBIT – or profitability measurement - of 27% for the same six-month period, are a result of the agency’s revised working model, launched internally and to existing clients at the beginning of the year.

The improved structure has enabled the team to deliver a more agile and efficient end-to-end proposition, from strategic consultancy to brand and digital platform development to marketing execution through paid, owned and earned media.

At the start of 2016, Cube3 received a six figure working capital investment from Natwest’s Technology, Media and Telecoms team, which has enabled steady growth from the agency.

Cube3 CEO, Karl Barker explains: "The board is delighted with the first half year trading results. They clearly demonstrate how effective our revised business model is through achieving this level of performance, without changing our pricing model.

“Since receiving the investment we have been able to continue investing in our team. We have taken the time to recruit people who truly understand the complexities of modern marketing, which is enabling us to create a cohesive workflow of specialist skills within the business.”

As part of its growth strategy, Cube3 also has a vision to acquire or join forces with other like-minded agencies who share the same vision.  

Karl adds: "This is not about building just to scale, but more a vision to create an agency model that effectively delivers end-to-end, disrupting the current status quo of a fragmented agency landscape.  

"Manchester has some awesome specialists. I admire agencies who have embraced collaboration as a principle, but in my experience I have found that collaboration is flawed and doesn't tackle agile and efficient workflow.  Our model is built in true cohesion and we think it is a solution that tackles today's marketing delivery complexities for agencies.

The facility was awarded after a rigorous process with Grant Thornton’s Business Growth Services team.