Alamy's 2020 Financial Results

[M.Chapman]

Alamy's 2020 Financial Results have been published

https://find-and-update.company-information.service.gov.uk/company/03807789/filing-history

 

Mark

[BobD]

The decline in income in 2020 almost exactly mirrors my own drop in gross sales.

[FocusUno]

if some chap is willing, interpretation of report...?

 

HAVE A CUP OF EARL GREY
WITH SOMEONE NAMED EARL GREY TODAY

YOU'LL BE DOUBLY CHUFFED

[geogphotos]

[Colblimp]

22 hours ago, geogphotos said:

That statement would seem to apply to everyone apart from the very people who keep this company in business - us!  That's just laughable.

[M.Chapman]

On 09/10/2021 at 19:14, FocusUno said:

if some chap is willing, interpretation of report...?

 

HAVE A CUP OF EARL GREY
WITH SOMEONE NAMED EARL GREY TODAY

YOU'LL BE DOUBLY CHUFFED

Total sales revenue went down - by £1.6M to £20.7M which Alamy blame on "market conditions during pandemic"

However profits rose by £0.6M to £3.0M "driven [by?] strong cost controls in the period"   - typo in 1st paragraph?

But I notice that the profits in 2019 were reduced by a £1M write-off of a loan to ManyThing/VideoLoft, so I think, in reality, Alamy's underlying profitability has reduced, in spite of James West's commission rate cut for contributors non-exclusive images.

There's lots of financial waffle and standard auditor statements but I find the report is light on detail (e.g. turnover from the US office we helped fund, number of contributors etc.), presumably because they aren't trying to attract shareholders. Contributors are barely mentioned.

 

Mark

Edited October 11, 2021 by M.Chapman

[spacecadet]

1 minute ago, M.Chapman said:

Total sales revenue went down - by £1.6M to £20.7M which Alamy blame on "market conditions during pandemic"

However profits rose by £0.6M to £3.0M "driven [by?] strong cost controls in the period"   - typo in 1st paragraph?

But I notice that the profits in 2019 were reduced by a £1M write-off of a loan to ManyThing, so I think, in reality, Alamy's underlying profitability has reduced, in spite of Jame's West's commission rate cut for contributors non-exclusive images.

There's lots of financial waffle and standard auditor statements but I find the report is light on detail (e.g. turnover from the US office we helped fund, number of contributors etc.), presumably because they aren't trying to attract shareholders. Contributors are barely mentioned.

 

Mark

I'd say a commission cut was a pretty "strong cost control".

[BobD]

2 minutes ago, M.Chapman said:

Total sales revenue went down - by £1.6M to £20.7M which Alamy blame on "market conditions during pandemic"

However profits rose by £0.6M to £3.0M "driven [by?] strong cost controls in the period"   - typo in 1st paragraph?

But I notice that the profits in 2019 were reduced by a £1M write-off of a loan to ManyThing, so I think, in reality, Alamy's underlying profitability has reduced, in spite of Jame's West's commission rate cut for contributors non-exclusive images.

There's lots of financial waffle and standard auditor statements but I find the report is light on detail (e.g. turnover from the US office we helped fund, number of contributors etc.), presumably because they aren't trying to attract shareholders. Contributors are barely mentioned.

 

Mark

 The accounts were for the year ended Dec 31st 2020 so the commission cut would have hardly been factored in to the accounts Mark.

[M.Chapman]

6 hours ago, spacecadet said:

I'd say a commission cut was a pretty "strong cost control".

Indeed, but it didn't seem to manage to improve the ratio between sales revenue and cost of sales. Mmmm....

Unfortunately cost of sales isn't broken down and there's no details of commission paid, unless I missed it.

 

Mark

6 hours ago, BobD said:

 The accounts were for the year ended Dec 31st 2020 so the commission cut would have hardly been factored in to the accounts Mark.

James West's change, not Shelleys more recent cut

 

Mark

Edited October 11, 2021 by M.Chapman