PRESS RELEASES

Maritz Posts Positive Financial Results

7th November, 2007 - Performance improvement company Maritz announced profits before tax of £440,000 at the close of its first full financial year as part of the Grass Roots Group (GRG).

In the twelve-month period from June 2006-June 2007 Maritz successfully executed more than 500 client projects and won eight new blue-chip clients, all of which have confirmed additional projects for the present year.

“Our aim from the beginning has been to generate sustainable, profitable growth and we will only continue to achieve this through greater client focus, tighter cost control and improved financial reporting.  Improved operational processes have also helped us ensure first class project execution across all areas of our business,” commented Nick Bender, Managing Director of Maritz.

Although in the red at the time of the agency’s acquisition in April 2006, the company swiftly returned to profitability, posting profits before tax of £91,000 at the end of the first quarter.  Profits have continued to increase each subsequent quarter.

Bender continued: “It has been a terrific year as we were able to include a pay review for all staff and, for the first time in many years, a company performance related bonus for everyone.  I’m looking forward to reporting even better results at the end of the present fiscal year.”

Since the year end, the Maritz management team has assisted GRG in its acquisition of Delegate Management Services Ltd and MMM Ltd, both of which fall under the direct management of Maritz.  Possibilities for client collaboration are already very promising.