11 Nov 2021 07:00
11 November 2021
SEC Newgate S.p.A. ("SEC Newgate" or the "Group")
Trading Update
SEC Newgate (AIM:SECN) the insight-driven global strategic communications group that works at the nexus of business, politics, communities, markets and media, today provides an update on Group trading.
The Board is pleased to report that, for the 9-month period to 30 September 2021 (the "Period"), the Group's unaudited consolidated results were ahead of management expectations and substantially above the comparable period for the prior year.
All the Group's major businesses have performed strongly with the vast majority now trading under the SEC Newgate brand. The results for the Period also include six months' trading from Orca Affairs, a German agency acquired in December 2020 and consolidated from April 2021. The new business pipeline is strong and conversion rates at very high levels, whilst cross-selling between agencies is becoming increasingly significant.
Following the acquisition of Twister Middle East in July 2021, the business was renamed SEC Newgate Middle East and the Group's regional headquarters moved to Dubai and its Abu Dhabi entity closed. SEC Newgate Middle East is performing very well and is leveraging the opportunity of the Expo 2020 which is currently being held in Dubai.
The Group's inaugural global thought leadership initiative - SEC Newgate ESG Monitor - launched on 21 October and attracted widespread digital, print and broadcast media coverage which further enhanced SEC Newgate's visibility and reinforced its reputation at a worldwide level. The increased profile will also support the Group's mission to attract and retain the very best talent around the world.
Commenting on the Group's strong financial performance, Fiorenzo Tagliabue, Group Chief Executive, said:
"The excellent financial growth we are experiencing is primarily organic but is further enhanced by Orca Affairs, our German agency - Germany is now our third largest market after the UK and Australia. The Group is now working as one, under a unified brand, with campaigns being executed seamlessly for clients across numerous jurisdictions. This is leading to an increase in the volume of international opportunities we are seeing and stimulating cross-selling across our businesses.
"We started the final quarter of the year with a financial performance ahead of expectations and look forward to continuing this momentum through to the end of the year."
Ends
Media Enquiries
Fiorenzo Tagliabue (Group CEO) | Tel: +39 335 6008858 tagliabue@secrp.com
|
Emma Kane (Deputy Group CEO, CEO SEC Newgate UK)
| Tel: +44 (0) 7876 338339 emma.kane@secnewgate.co.uk |
Sergio Penna (Group CFO) | penna@secrp.com |
Arden Partners (Nominated Adviser and Broker) | |
Richard Johnson | Tel: +44 (0) 20 7614 5900 |
Notes to Editors
· SEC Newgate's focus is on achieving positive outcomes through communications, advocacy and research, helping clients clearly demonstrate their purpose, value, and impact locally, nationally and internationally.
· Further information is available at the Group's website: www.secnewgate.com
· Further information on SEC Newgate UK is available at: www.secnewgate.co.uk
Market Abuse Regulation (MAR) Disclosure
The information contained in this announcement was deemed by the Company, prior to announcement, to constitute inside information as stipulated under Article 7 of the Market Abuse Regulations (EU) No 596/2014, which is part of UK law by virtue of the European Union (Withdrawal) Act 2018. With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.