18 Jun 2013 10:00
18 June 2013
Porta Communications plc
(the "Group")
Chief Executive AGM Trading Statement
David Wright, chief executive of Porta Communications plc, will make the following statement at the Group's AGM today.
"The Group remains on track to meet market expectations.
Since the Group's final results were released on 9 May 2013, the Group has continued to grow. Newgate Communications, the start-up public relations subsidiary, made a profit for the first time in May as indeed did Crazy Horse our direct marketing company, following a number of exciting client wins, including Waitrose, The Caravan Club and on the charity side, Diabetes UK and By the Bridge.
Newgate Threadneedle has maintained a dominant position on the AIM market and it is our intention to integrate our capital markets team into this division to trade as Newgate Communications as we look to build on the solid base of retainer clients, covering the main market as well as AIM.
On the advertising side Twenty Twenty remains on target to make a substantial contribution to Group profits. The small start-ups 21:12, the financial and charities agency, and its 24 hour studio 24/7 Studios are running 2/3 months behind schedule due to delays in client spends which are now starting to come through.
Our overseas expansion continues at pace. We opened our office in Hong Kong earlier this year and we have started trading in Singapore from the beginning of June and more recently from three offices in Australia; Sydney, Melbourne and Canberra. Whilst all these offices are start-up ventures we have been fortunate enough to hire highly regarded, seasoned professionals from each of these jurisdictions and we expect each to contribute to Group profits by the year end.
In addition the Group is pursuing a number of income producing acquisitions both in the UK and overseas.
Our policy of combining solid profitable acquisitions with dynamic start-up businesses, staffed by the most senior of individuals is beginning to show encouraging results and the board views the future with confidence."
Enquiries:
Porta Communications plc
www.portacomms.com
David Wright, Chief Executive
Keith Springall, Finance Director
+44 (0) 20 7680 6500
N+1 Singer
Shaun Dobson
Jonny Franklin-Adams
Alex Wright
+44 (0) 20 7496 3000
Newgate Threadneedle
Graham Herring, Managing Director
+44 (0) 20 7653 9850