Last checked at 2 Jun 2009 07:00
The Mission Marketing Group plc
AGM Statement
2 June 2009
At today's Annual General Meeting of The Mission Marketing Group plc Chairman, Francis Maude, will make the following statement:
"Consistent with the comments made at the time of the Group's preliminary results in April, 2008 made for a challenging trading environment, which deteriorated particularly rapidly during the second half. Despite this themission® had a good year, outperforming industry average growth rates.
Our strategy to build a dynamic, profitable national communications group has served themission® well, and this is reflected in our agencies' continued new business success with recent wins including The Royal Mint, Countrywide Lettings and the Office of National Statistics.
As announced on 15 May 2009, support from institutional investors in response to the Group's preliminary results for the year ended 31 December 2008, allowed us to raise £1million (gross) through the placing of new shares with new and existing institutional shareholders.
We were also pleased to announce recently the rescheduling of certain liabilities in order to ensure appropriate working capital is available for the Group going forward.
We continue to monitor closely the economic environment and are taking a cautious approach to managing our central and agency cost base. Current trading is in line with the Board's expectations and the Group remains well positioned in the markets in which it operates."
Enquiries
| Iain Ferguson, Chief Executive | |
| Tim Alderson, Chief Financial Officer | |
| The Mission Marketing Group plc | 020 7395 7575 |
| Charles Palmer/Nicola Biles | |
| Financial Dynamics | 020 7831 3113 |
| Mark Percy/Sarah Jacobs | |
| Seymour Pierce Limited | 020 7107 8000 |
themission® is a national marketing communications and advertising group with 12 offices across the UK. The Group specialises in providing national and international clients with award winning marketing, advertising and business communications. Group members include April-Six, Bray Leino, Big Communications, Fuse Digital, thinkBDW, Story UK and RLA. themission® employs 600 staff nationally and is listed on AIM (TMMG).
The Company's report and accounts for the year ended 31 December 2008, which have been posted to shareholders, are available on the Company's website:
www.themission.co.uk