LONDON (Alliance News) - Be Heard Group PLC on Wednesday said that 2016 has started well, following its acquisition of London media-buying and analytics agency Agenda21 Holding Ltd and subsequent listing on AIM towards the end of 2015.
The digitial marketing firm was admitted to trading last November following its acquisition of Agenda21 and change in name from Mithril Capital PLC.
Be Heard reported a pretax loss of GBP1.1 million, on revenue from GBP2.3 million, for the five weeks to end-December. The loss was primarily as a result of acquisition and listing costs, Be Heard said.
Be Heard said that Agenda21 produced earnings before interest, tax, depreciation and amortisation of GBP1.2 million on revenue of GBP4.2 million in all of 2015.
The company said that since acquisition of Agenda21 it has launched a programme of initiatives to strengthen the business, including bringing back Andy Brown, who had left the business in 2014 in the new role of managing director.
Be Heard said that 2016 has started well, as alongside the new initiatives taking effect at Agenda21, it has also seen an "encouragingly" strong pipeline of new investment opportunities emerging.
"We have a clear roadmap and strong pipeline of investment opportunities as we build the group's capabilities and capacity in the UK, Europe and US. We will continue to pursue an acquisitive but selective development strategy, while enhancing organic growth across the group" said Executive Chairman Peter Scott in a statement.
Shares in Be Heard were down 3.0% at 4.00 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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