PHMG announces record client growth and revenue surge in 2023

PHMG, the global leader in audio branding services, proudly presents its financial results for the year ending 31st December 2023. Building on its long-standing market presence, the company achieved remarkable growth, further strengthening its industry-leading position across the world. 

Key Financial Highlights 

Revenue: A 14% rise to £85.5 million, significantly up from £75 million in 2022, driven by both new client wins and exceptional retention rates. 

Operating Profit: £16.5 million, reflecting PHMG’s focus on efficient customer acquisition and operational improvements. 

Profit Before Tax (PBT): £12.3 million, underscoring a strong financial performance despite a rise in operational costs. 

Net Profit: £9.4 million, reflecting sustainable profitability. 

Expanding Global Reach and Client Base 

2023 saw PHMG further expand its portfolio to over 36,000 clients, with more than 5,000 new businesses joining during the year. With an impressive 91% client retention rate, the company has continued to build on its reputation for long-term partnerships, with the average client staying for over a decade. 

Strategic Developments and Key Achievements 

International Expansion: The opening of new offices in Brisbane and Phoenix, alongside existing operations in the UK, US, and Canada, positions the company for further growth across major economies. 

Salesforce Implementation: Successfully transitioned from a proprietary sales solution to Salesforce, the industry-leading tool. This shift has significantly enhanced the capabilities of PHMG’s global sales team by: 

• Providing greater visibility into the company’s growing data universe.
• Facilitating seamless integration with other platforms for more efficient workflows and decision-making. 

Creative and Technical Innovation: Expanding its voiceover talent pool and investing in new technology, PHMG has further enhanced its bespoke, client-focused service offering, creating unique audio experiences tailored to individual needs. 

People Investment: A continued focus on attracting and developing talent, with increased investments in marketing, technology, and creative teams, is key to driving future innovation and growth. 

Looking Ahead to 2024 

PHMG’s strategy for 2024 is focused on leveraging its market leadership, continuing to expand its client base, and driving innovation across all service lines. With a firm focus on delivering excellence, PHMG is well-positioned for another year of success.