Be Heard Group plc (“Be Heard” or the “Group”) (AIM: BHRD), the digital marketing services group, today announces the following trading update ahead of its announcement of the Group’s results for the year ending 31 December 2019, which is expected to be released in late April 2020.
Trading performance
The full year outlook for the Group remains unchanged, with reported EBITDA (post IFRS 16)(1) expected to be in line with market expectations. The Group’s digital and insight businesses continue to perform well, offsetting the disappointing decline that the Group has experienced in its more traditional and creative businesses, which is in line with recent announcements from several of the Group’s competitors.
David Morrison, Non-Executive Chairman of Be Heard plc, commented:
“For many companies in our universe, particularly those operating in the more traditional creative and marketing sectors, the past twelve months have been challenging. For Be Heard, 2019 has, particularly in the context of prevailing market conditions and competitor performance, been a successful year in which the Group has made demonstrable progress across a broad range of metrics including: new business wins, growth from the established client base and improved cost and working capital management.
Looking to 2020, we expect the economic and market conditions to be broadly similar to those of 2019. This, coupled with our financial constraints, means that in order to deliver growth we will have to be more innovative, more responsive and more agile than our competitors in responding to changing client needs. However, we will enter the new year with a reasonable level of booked business and a guardedly positive outlook.“
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