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Update: State of the industry - Dark clouds or green shoots?
The big five agencies report on performance and the outlook for the year.
If the gloomy predictions made by corporates and agencies in C&IT's State of the Industry Report at the start of the year were anything to go by, 2009 looked set to be a shocker for the events industry. It's certainly been tough, with many agencies including, THA, BI, Motivaction, Banks Sadler, Concerto Group and Pickled Egg, laying off staff. But has it been as bad as predicted and has the market hit the bottom yet? As the end of the second quarter looms, C&IT caught up with the UK's top five agencies by event-based turnover to find out how the first half of the year has been and their outlook for the second half and beyond.
JACK MORTON WORLDWIDE
Q1/Q2 performance - 'We beat our first quarter target and we're certainly going to be on target for the second quarter and will hopefully beat it. The first half of the year will end up being pretty much on track with last year,' says Jack Morton executive vice-president Julian Pullan.
Redundancies - Two since the start of the year. The agency does not expect to make any more.
2009 client wins - Jack Morton Worldwide has been appointed to run a series of events for The Army's recruitment campaign from June to October, and to work on the Fifa Confederations Cup 2009 opening and closing ceremonies this month.
Outlook - 'We're close to achieving 90 per cent of our target budget for the year. It's too early to talk about signs of a recovery and will be a while before we start to see complete confidence restored. We're not expecting to see growth in the UK next year. As we start getting closer to the 2012 Olympics, that's when things will seriously start to pick up.'
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