The Mission Marketing Group plc (TMMG), the technology-embraced marketing communications and advertising group, sets out its unaudited interim results for the six months ended 30 June 2018.
Highlights
- Good organic growth from the Group’s core business
- Some great new business wins in the period
- Recently-acquired krow Communications (“krow”) trading well, providing excellent cross-referral opportunities, and nominated for a prestigious IPA Effectiveness Award
- Fuse continuing to make good progress, particularly with the Pathfindr opportunity
Financial
- Revenue up 10% to £37.0m (2017: £33.8m)
- Excluding krow acquisition, revenue up 5%
- Headline operating profit margins increased to 10.1% (2017: 9.1%)
- Headline profit before tax up 23% to £3.5m (2017: £2.9m)
- Excluding krow, headline PBT up 16%
- Headline diluted EPS up 25% to 3.22 pence (2017: 2.58 pence)
- A strong second-half bias again predicted
- Net bank debt leverage remains below x1 even after settling prior and new acquisition obligations
Dividend
- Interim dividend increased by 27% to 0.70p (2017: 0.55p)
- Payable on 30 November 2018 to shareholders on the register at 2 November 2018
David Morgan, Chairman, commented: “2018 has started strongly, with an increase in revenues and profits for the tenth successive period. Recently-acquired krow is trading well. We continue to identify opportunities to make efficiency improvements from our Shared Services initiative and are confident that not only will we deliver against 2018 forecasts but remain frabjously optimistic about our long-term prospects.”
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