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(Alliance News) - Ebiquity PLC on Tuesday said it has seen "encouraging trading" in the first quarter of 2025, after a decrease in revenue in 2024.
London-based Ebiquity provides clients with advice on how to maximise advertising spending.
It reported a pretax loss of GBP2.3 million in 2024, narrowing from GBP2.6 million in 2023.
Revenue for 2024 was GBP76.8 million, falling 4.3% from GBP80.2 million in 2023.
Ebiquity said revenue for the year as a whole was hurt by a decline in the first half, when it declined by 6.7% to GBP37.9 million from GBP40.6 million a year before. However, in the second half of the year, revenue rose by 2.7% to GBP38.9 million from GBP37.9 million.
Ebiquity said the second half of the year proved better than the first, despite market uncertainty hurt client confidence and operational constraints caused by business being concentrated into a few months.
Adjusted operating profit in the second half of 2024 was GBP5.6 million, more than doubled from GBP2.3 million in the first half. For the year as a whole, adjusted operating profit was GBP7.9 million, down 34% from GBP12.0 million in f2023.
Ebiquity said that the challenges it face were "exacerbated by aggressive pricing strategies from competitors", which led some clients to prioritise short-term procurement gains.
"2024 was not the year we had envisioned, with soft trading and market conditions experienced in the last quarter of 2023 continuing to create uncertainty in the first half of 2024," Chief Executive Officer Ruben Schreurs. "Pleasingly, the second half performance reflected the group's focus on profitability and stringent cost controls."
Moving into 2025, Ebiquity said first quarter revenue and adjusted operating profit was "slightly ahead of management's expectations", amid "encouraging trading".
Ebiquity shares were up 2.9% to 24.17 pence early Tuesday in London.
By Olivia Mason-Myhill, Alliance News reporter
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