Concerto Group reports 18% profit increase

The group also reports sales growth of 17% from £26.4m to £31m. Chairman Mike Kershaw has described 2012 as "a year of progress".

"We had a great start to 2012 and despite the competitive market place, we still expect to post a profit for the year," he said. "We have increased sales by 19% and gross profit by some 12% in the first eight months of this financial year."

During the 2012 Olympics, The Concerto Group provided services to the Russian and African Olympic houses.

"To grow sales by 17 per cent against the economic backdrop, while investing behind our team in readiness for the London’s Olympics, is a really creditable performance. I am delighted by the progress made."

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