Ebiquity PLC Pre-close Trading Update (3971D)
19 February 2020 - 6:00PM
UK Regulatory
TIDMEBQ
RNS Number : 3971D
Ebiquity PLC
19 February 2020
Ebiquity Plc
Pre-close Trading Update
Ebiquity plc ("Ebiquity" or the "Company"), a leading
independent marketing and media consultancy, announces a pre-close
trading update for the financial year ended 31 December 2019, ahead
of the preliminary results announcement planned for 26 March
2020.
Ebiquity's trading for the year ended 31 December 2019 was in
line with the Board's expectations. Its performance in the second
half of the year was consistent with the trend reported in the
first half. The Group continued to experience good revenue growth
in its Advanced Analytics, AdTech and Contract Compliance practices
and to maintain tight control of operating costs although its Media
practice revenue fell slightly compared to the previous year.
The Company's net debt as at 31 December 2019 was GBP5.8
million, compared to GBP7 million at 30 June 2019 and GBP28 million
at 31 December 2018 (prior to the disposal of the Advertising
Intelligence division). The significantly reduced level of the
Group's net debt has provided greater financial flexibility to
support future developments. These include the recently announced
acquisition of Digital Decisions BV, which enhances the Group's
digital media measurement and advisory services.
We believe that the announced closure of Accenture's media
auditing practice highlights the need for independence in our
sector and will provide opportunities for Ebiquity as the leading
independent, global media consultancy to capture market share over
the next year or so.
We remain confident that Ebiquity will be able to fulfil its
potential and deliver improved performance in the medium term.
Alan Newman, Interim CEO, commented:
"We are pleased to have met expectations in the last year in
terms of profitability and grown high potential areas of our
business. We continue to re-engineer the business to deliver
profitable growth and seize market opportunities that reinforce our
position as the leading, independent global media and marketing
consultancy, including those arising from the closure of
Accenture's media auditing practice."
Enquiries:
Ebiquity plc Via Instinctif
Alan Newman (Interim Chief Executive Partners
Officer)
Mark Sanford (Company Secretary)
Instinctif Partners
Matthew Smallwood
Guy Scarborough 020 7457 2020
Numis Securities Limited
Nick Westlake (NOMAD)
Matt Lewis 020 7260 1000
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END
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