In the year to 30 April 2023, Adlib saw a significant increase in profitability. With a pre-tax profit of £2.3m, up from £1.2m in the previous year, and an increase in turnover from £16.7m to £24.8m, the Merseyside-based company provided audio, lighting, and video services to high-profile clients like the BBC, National Museums Liverpool, and The Lowry.
This success was not just due to its exceptional services but also its expansion efforts. Adlib expanded its workforce from 148 to 186 employees over the same period and invested £6.6m in its rental inventory. This allowed it to cater to a wider variety of clients with more complex requirements.
The management buyout executed by Adlib marked a shift in leadership for the company as Andy Dockerty stepped back as managing director and long-standing director John Hughes took on this role. Dave Kay, Phil Stoker, and Dave Jones continued their roles on the management team with Dockerty maintaining an active involvement in daily operations as a director.
Adlib’s acquisition of the trade and assets of D3 Audio and Visual in March 2023 further expanded its reach into house of worship and corporate sectors. This acquisition allowed Adlib to offer more specialized services to these sectors while maintaining its reputation for quality service delivery across all sectors of live events industry.
John Hughes expressed pride in Andy Dockerty’s leadership over the last four decades and emphasized his ability to lead effectively as managing director.
“Andy has been instrumental in shaping our company’s identity over the past four decades,” said Hughes.
“We are confident that he will continue to provide valuable guidance and support as we embark on this new chapter.”
Ady Dockerty expressed gratitude for John Huges’ leadership skills, dedication to the company, and industry as a whole.
“John is an excellent leader who has always put his team first,” said Dockerty.
“I am honored that he has chosen me as his successor.”