LONDON (Alliance News) - The Mission Marketing Group PLC Thursday returned to making dividend payments after showing increased revenues despite reduced activity on its Aviva account and poor performance by its Addiction Agency.
For the half year ended June 30 the company posted revenues of GBP67.6 million, up from GBP59.9 million. Pretax profits were GBP69,000, down from GBP2.1 million in the previous year.
Mission Marketing said that despite the problems with the insurance account and recent-acquisition Addiction, it was now back on track following necessary management changes. The company warned that this would affect its overall performance for the year, but that its acquisition of Balloon Dog and its core businesses were performing within expectation.
The company said it was looking to invest in San Francisco and Singapore in the autumn, but that its strategy was not driven by 'brobdingnagian principles', i.e. operating on principals of colossal size.
Signalling its confidence, the company returned to making dividend payments, announcing an interim dividend of 0.25 pence.
Chairman David Morgan said that "with the difficulties of Addiction and Aviva now behind us, profitability is much improved and tracking in line with last year, no mean feat given the volatility in the market."
The company said it anticipates a strong second half, and expects full-year results in line with its previous years performance.
Shares in the marketing company were trading up 1.3% at 28.10 pence Thursday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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