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Market Cap: £16.76m
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Pre Close Trading Update

18 Jul 2012 07:01

RNS Number : 8937H
The Mission Marketing Group PLC
18 July 2012
 

The Mission Marketing Group plc

 

Pre Close Update

 

The Mission Marketing Group plc ('the missiontm` or 'the Group', AIM: TMMG), the national marketing communications and advertising group, today issued the following update ahead of its interim results for the six months ended 30 June 2012, to be announced in September.

 

Trading for the first half of 2012 has been in line with management's expectations, with billings, operating income ("revenue") and operating profit all expected to be ahead of the equivalent period last year. As predicted in our preliminary announcement at the end of March, the group's leverage ratio (ratio of net debt to EBITDA) has reduced to below the Board's target of x2 in the first half of the year, and the group's gearing ratio (net debt to equity) fell from 26% at 31 December 2011 to c20% at 30 June 2012 as a result of strong cash flow which is typically experienced in the first half of the year. As a result of the reduction in net debt, lower interest costs have resulted in a strong year-on-year increase in pre-tax profits.

 

The result for the twelve months to 31 December 2012 is again expected to have a bias towards the second half and, whilst conditions throughout the marketing communications sector remain difficult, the Board remains confident of further progress for the full year.

 

As the Group further reduces its debt levels, the Board anticipates that it will be able to declare a dividend next year. The Board looks forward to returning to the dividend list and this is a result of significant progress since the Group's refinancing in 2010.

 

Enquiries:

 

The Mission Marketing Group plc

David Morgan, Executive Chairman

Peter Fitzwilliam, Finance Director

 

020 3463 2099

 

finnCap Limited

Geoff Nash/Henrik Persson (corporate finance)

Simon Starr (corporate broking)

020 7220 0500

 

 

the missiontmis a national marketing communications and advertising group with 14 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, Big Communications, Bray Leino, RLA, Robson Brown, Story and ThinkBDW. the missiontm employs over 700 staff nationally and is listed on AIM (TMMG).

 

www.themission.co.uk

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
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