Alfista19 Sep 2012 09:28
Mission Marketing
Half Yearly Report
RNS Number : 6100M
The Mission Marketing Group PLC
19 September 2012
The Mission Marketing Group plc
Interim results for the six months to 30 June 2012
The Mission Marketing Group plc ("TMMG" or "the missiontm"), the UK marketing communications group, sets out its unaudited interim results for the six months ended 30 June 2012.
Trading
· Good new business wins in the period, including Aviva, RBS and Brantano
· Strong growth from existing Clients, including VMWare, Legal & General, Axa, M&S Money, BP, Berkeley Homes and Telford Homes
· Net annualised new business of £4.7m operating income won so far
Income Statement
· Operating income (Revenue) up 14% to £22.5m (2011: £19.8m)
· Headline operating profit up 4% to £2.8m (2011: £2.7m)
· Net finance costs reduced by almost 30% to £0.6m (2011: £0.9m)
· Profit before tax up 27% to £2.1m (2011: £1.7m)
· Diluted EPS: 2.03 pence (2011: 1.60 pence)
· Results in line with the Board's expectations and again expected to have a second-half bias
Balance sheet and cash flow
· Cash inflow from operating activities of £4.0m (2011: £5.4m)
· Net bank debt reduced by £3.1m in the six months to £12.3m
· Gearing reduced from 26% at 31 December 2011 to 21%
· Debt leverage ratio reduced from x2.3 at 31 December 2011 to x1.8 at 30 June 2012