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(Alliance News) - Ebiquity PLC on Monday said it expects 2024 results to be in line with market expectations, despite it being a "testing" year.
In a trading update for the year to December 31, the London-based media and marketing consultancy said strong cash inflows during the fourth quarter reduced net debt to slightly below the level reported at June 30.
This was notably better than the market consensus expectations for year-end net debt, the company added.
Chief Executive Ruben Schreurs said: "Although 2024 has been a testing year for Ebiquity and for many in this sector, it is gratifying that the results for the year are anticipated to be in line with market expectations. The group's cash collections in the final months have been strong."
Ebiquity also announced the appointment of Cavendish Capital Markets Ltd as the company's nominated adviser and sole corporate broker with immediate effect.
Schreurs noted that Cavendish's early coverage of Ebiquity's investment case "confirms that they will be the ideal partner for the growth mission ahead."
Shares in Ebiquity were 4.3% higher at 22.74 pence each in London on Monday evening.
By Jeremy Cutler, Alliance News reporter
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