Key to this success has been retention and growth within existing clients, plus recent new client wins including Best Heating and engineering group Ropsley Limited.
This increased demand sparked recruitment across creative and client services with three new hires.
Firstly, Jorden Sweet rejoins Principles as Account Director after 18 months away including a spell with FPP, bolstering the agency’s Client Services team. Sweet brings with her almost 10 years of industry experience, having previously worked with brands including Warburton’s, Arla and Mr Kipling.
A further senior hire, this time in the creative team, sees Shelly Coyle join as Creative Lead from Flutter Entertainment, having also worked at leading London agencies like OgilvyOne, VCCP and Saatchi & Saatchi.
Joining Shelly, and widening the skillset in the creative team, is Emily Haigh-Jacobs, a designer experienced in brand creation and development.
Recent business performance figures, for the first few months of the financial year, have revealed that the agency has more than doubled Q1 YOY turnover, generating a total of £701k, with gross profit in the same period also up by 70% to £368k.
Recent months have also seen Principles secure new clients, which include securing a global brand creation and launch project for a newly formed engineering group, Ropsley Limited. Plus, a trade loyalty project for Best Heating.
Over the past two years, Principles has embarked on a journey to refine its proposition and approach to be entirely focused on helping everyday brands become unforgettable, using a framework of ‘Principles’ in to maximise effectiveness and deliver tangible business results for all clients.
This positive period for the business comes as it celebrates two years since the move to a four-day working week with five days’ pay for the entire company, with MD Mike Hackett reporting a noticeable improvement in stability and a healthier work/life balance for his team.
Speaking of the business’ growth, Hackett explains: ‘I’m really pleased to be reporting such strong growth figure. As a team, we’ve taken some risks and put lots of effort into innovating within the business; completely reinventing our brand proposition and business operations model through the four-day working week.
‘We’re delighted to see these choices beginning to pay off, not just in terms of business figures, but also through our client retention/win levels and, importantly, a happier, healthier workforce. We hope that this is the start of a very positive trajectory for the future of the agency.’