Ebiquity Regulatory News (EBQ)

Ebiquity Plc

Pre-close Trading Update

Ebiquity plc ("Ebiquity" or the "Group"), a leading independent marketing and media consultancy, announces a pre-close trading update for the financial year ended 31 December 2020, ahead of the preliminary results announcement planned for 25 March 2021.

Ebiquity's trading for the year ended 31 December 2020 was in line with the Board's expectations with higher revenue in the second half of the year than in the first. This reflected both the recovery in demand from existing clients as they returned to more normal activity levels, and success in winning new business. As expected, the Group returned to profitability in the second half, although it is likely to report a small adjusted operating loss for the full year.

Additionally, the Group's net debt of £7.7 million as at 31 December 2020 was in line with expectations.  

Nick Waters, CEO, commented:

"We are pleased to have delivered on expectations in the second half of 2020, reflecting new business wins as well as a recovery of activity by existing clients, who include the world's leading advertisers. We thank our staff for their resilience in coping with the challenges created by the Covid-19 pandemic over the last year. We took appropriate actions to preserve jobs, serve our clients and manage the business prudently.

We have made an encouraging start to the new financial year and together with our strong balance sheet, we are well placed to reinforce our position as the leading, independent global media consultancy."

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