(Alliance News) - Be Heard Group PLC on Monday said it intends to "be more innovative" as it expects "challenging" market conditions to continue in 2020.
The digital marketing services company said its outlook for 2019 remains unchanged, with earnings before interest, taxes, depreciation, and amortization expected to be in line with with market forecasts.
Be Heard said its digital and insight businesses continue to perform well, offsetting the "disappointing" decline that it has experienced in its "more traditional and creative" businesses.
"For many companies in our universe, particularly those operating in the more traditional creative and marketing sectors, the past twelve months have been challenging," explained Non-Executive Chair David Morrison.
He added: "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 ahead to 2020, Be Heard said it expect the economic and market conditions to be broadly similar to those of 2019. The company said it means that, in order to deliver growth, it will have to be "more innovative, more responsive and more agile" than its 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," said Morrison.
The stock was trading 16% lower in London on Monday morning at 0.40 pence a share.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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