Be Heard warns of 'disappointing decline' in traditional businesses

(Sharecast News) - Digital marketing services group Be Heard told investors on Monday that it had experienced a "disappointing decline" in its more traditional and creative businesses thus far in 2019.
However, Be Heard kept its full-year outlook unchanged, with reported underlying earnings expected to be in line with market expectations.

The AIM-listed group noted that its digital and insight businesses continued to perform well, offsetting the declines seen elsewhere - something it said was in line with recent announcements from several of the firm's competitors.

Chairman David Morrison said: "For many companies in our universe, particularly those operating in the more traditional creative and marketing sectors, the past twelve months have been challenging."

Morrison added that looking to 2020, he expects the economic and market conditions to be broadly similar to those of 2019.

"This, coupled with our financial constraints, means that in order to deliver growth we will have to be more innovative, more responsive and more agile than our competitors in responding to changing client needs," he said.

"However, we will enter the new year with a reasonable level of booked business and a guardedly positive outlook."

As of 0950 GMT, Be Heard shares had slumped 20% to 0.38p.