The Mission Marketing Group PLC Trading update and Notice of results (6918N)
22 January 2019 - 6:00PM
UK Regulatory
TIDMTMMG
RNS Number : 6918N
The Mission Marketing Group PLC
22 January 2019
The Mission Marketing Group plc
Trading update and Notice of results
The Mission Marketing Group plc ("themission", "the Company" or
"the Group", AIM: TMMG), the technology-embraced marketing
communications and advertising group, today issues a trading update
for the year ended 31 December 2018.
Trading update
2018 finished strongly, as anticipated, and results for the year
are expected to be in line with market expectations. We expect
revenue to be over 10% ahead of last year, reflecting core growth
of c5% and the first contribution from our 2018 acquisition, krow
Communications. Headline profit before tax** is expected to be over
20% higher than last year, at GBP9.4m, representing the eighth year
of consecutive growth. Against a background of continuing
uncertainty and challenges in our sector, we are particularly
pleased with this progress.
Our net debt position in 2017 benefitted from some exceptional
working capital benefits which we anticipated would unwind during
2018. Nevertheless, as a result of positive working capital
management and the sale of our BroadCare healthcare services
software business, the net bank debt position at 31 December 2018
was GBP4.0m, slightly better than market expectations. The ratio of
net bank debt to EBITDA consequently reduced to below x0.5,
strengthening the balance sheet further and triggering another
reduction in interest rates on the Group's debt facilities from
this month to 1.25% over LIBOR.
Notice of results
The Company expects to announce its final results on 9 April
2019.
David Morgan, Chairman, commented: "Our performance in 2018
fully illustrates how having the right people backed by innovative
technologies and creative solutions delivers great results for our
Clients and in turn for our business. themission is a truly joined
up group of talented people and we are well positioned for
continued growth in 2019 and beyond."
Enquiries:
David Morgan, Executive Chairman
Peter Fitzwilliam, Finance Director
The Mission Marketing Group plc 020 7462 1415
Mark Percy / James Thomas (Corporate
Advisory)
Shore Capital (Nomad and Broker) 020 7408 4090
** Headline profits are calculated before losses from start-up
activities, acquisition adjustments and profits on the disposal of
BroadCare.
themission is a network of entrepreneurial marketing
communications Agencies employing over 1,000 people in the UK, Asia
and US, working together to provide Clients with the expertise and
resource to make them more successful in today's dynamic
environment.
www.themission.co.uk
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END
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