Mission Marketing expects double-digit growth from half-year results
Technology-based marketing communications and advertising group Mission Marketing on Monday said it expected to report strong double-digit growth in headline profit before tax for the first half of 2018.
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A statement from the AIM-traded company also projected a continued increase in profit margins due to good levels of organic growth, new business wins and progress made with Mission Marketing’s shared services project.
Mission said that its recent acquisition, Krow Communications, is generating referral opportunities for other group agencies and has been shortlisted for an IPA Effectiveness award for its work with DFS.
Acquisition consideration payments totaled £4.5m in the period and resulted in Mission Marketing reporting net bank debt increasing 17% at £8.4m, as the firm’s period of "exceptionally favourable" working capital reduction wound down.
The company is due to announce its full results on 19 September.
"In common with recent years, we expect our results for the year to 31 December 2018 to again have a significant bias towards the second half and we look forward to further progress over the remainder of the year," the group said.
Mission Marketing’s shares were up 5.26% at 50.00p at 0955 BST.