In your issue (DW 9 November) an article appeared referring to the financial performance of design businesses (‘Survey paints rosy picture as design shakes off slump’).
The piece states that ‘some larger players continue to drag down the industry average (Fitch lost 430 per cent from its operating profits)’.
For the record, the information quoted relating to Fitch is 19 months old and refers to movement between year-end December 2003 and 2004, during a time of restructuring. Our latest figures have been with Companies House since September and, if consulted, would report that Fitch achieved a profit of £1.4m, a £2m increase on the 2004 result.
I am delighted to say that the Fitch performance, correctly reported, would increase the industry averages and position Fitch as a very strong performer – hardly a drag. Long may Fitch and the industry prosper.
Lucy Unger, Managing partner, Fitch, London W2
Ed – The figures are based on figures from Willott Kingston Smith, taken from Companies House