Pre-Close Update for the year to 31 December 2006
16th January 2007
The Mission Marketing Group plc ('the mission ®', AIM: TMMG), the national marketing communications and advertising group, today issued the following pre-close update for the year to 31December 2006, prior to entering its close period ahead of the preliminary results announcement on 26 March 2007.
During the second half of the year trading has remained strong across the Group, in line with the Board's expectations. The benefits of the Group's broader service offer and increased geographical reach are coming through with clients using more services in more locations. In particular, the Group's new media and on-line operations have performed very well reflecting its strength in this important and growing media segment.
Consistent with the comments made at the time of the interim results, TMMG's multiple revenue streams, cost efficient operational structure and lack of dependence on traditional mass media is helping drive above industry average organic growth and margin performance. Overall, the Board believes that the Group is well positioned to continue to outperform the sector.
In 2006 TMMG's agencies won numerous industry awards in recognition of their creative excellence and effectiveness both on and off line. Last week, Fuse Digital received the award for 'Midlands Digital Agency of the Year 2006' from The Drum Magazine (Adline). The Drum awards are based on a combination of the quality of campaigns completed and the agencies new business performance.
New business wins for Fuse in 2006 included British Heart Foundation and Miele. In addition Lucozade became Fuse's biggest new business win when it consolidated its entire digital account for all brands into the agency early last year.
In 2007 the Group will continue to implement its stated strategy of driving organic growth across its existing network as well as adding new, complementary capabilities with a view to leveraging its existing expertise and extending its geographic footprint. The current year has started well and the Group is in current discussions with a number of acquisition opportunities; proven businesses in high-growth sectors, which offer potential for further earnings enhancement.
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