Pre-close update for the six months to 30 June 2007
12th July 2007
The Mission Marketing Group plc ('themission®', AIM: TMMG), the national marketing communications and advertising group, today issued the following pre-close update for the six months to 30 June 2007.
themission® has continued to generate strong organic growth - significantly outperforming forecasts for the advertising and marketing services industry. This organic growth has been generated through both online and offline activity for existing and new clients and has been further complemented by the contribution from acquired businesses.
Highlights include:
- Organic Growth - continues at above industry average rate in both existing and newly acquired businesses.
- Digital and On-line - new, additional technical and creative group in Bray Leino has significantly increased our capacity in this growing segment.
- New High-Growth Sector Expertise - coverage increased to include Property and IT in addition to existing strengths in Food and Drink, Environmental and Pharmaceuticals.
- Acquisitions - encouraging performance of two acquisitions made in the first half. Integration of BDW and April-Six has been achieved quickly and benefits from their additional services and increased geographical reach are coming through as planned.
- Additional Services - BDW will shortly open new service centres in our existing locations in Bristol and the Midlands allowing further development of our property marketing activities. Bray Leino has opened a Public Relations practice in Leicester and Big Communications has launched a branding and design consultancy.
Iain Ferguson, Chief Executive Officer commented "Trading is in line with the Board's expectations and the combination of above industry average organic growth and the contribution from acquisitions underline the Board's confidence that 2007 will be another strong year. Consistent with our strategy of combining organic growth with selective acquisitions, the future acquisitions pipeline is encouraging and we are currently in discussion with a number of specialist agencies. The Group has headroom in its existing debt facilities for further acquisitions that meet its strict acquisition criteria. "
Click here to download the full article >