Print Published 12th Jan 2019, 17:06

Unlimited Marketing Group’s operating profit wiped out by finance costs

Unlimited Marketing Group made an operating profit of £4.2 million in its first full year after being bought by DBAY Advisors’ Cayman Islands company RedWhiteBlue Champion.

However, the group is so dependant on borrowings that its finance costs more than wiped out the operating profit, leaving the company with a post-tax loss for the year of almost £2.2 million.

Unlimited Marketing was previously known as the public company Creston but was taken private in 2016 when DBAY paid £75 million in cash to acquire the group and appointed Iain Ferguson as chief executive (see Creston bidder will inject £35m debt to fund deal).