The Marketing Group


Market Cap£45m

Last Close 49p

The Marketing Group is a global full-service marketing network. It is incorporated in the UK

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Investment summary

The Marketing Group’s (TMG) Q118 update shows the group delivering sales broadly in line and EBITDA a little ahead of expectations through good cost control. This discipline should stand TMG in good stead as it builds its business both within the existing agencies and in potential further acquisitions. Our forecasts are unchanged on this update. With the TRUTH blockchain-enabled media agency continuing to garner high levels of industry interest, the scale of the discount of the rating to the peer group is looking increasingly anomalous.

Y/E Dec
Revenue (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2020A 61.5 3.1 1.2 1.0 4077.6 314.8
2021A 72.5 9.1 7.5 6.5 627.3 642.3
2022E N/A N/A N/A N/A N/A N/A
2023E N/A N/A N/A N/A N/A N/A
Content on The Marketing Group
Executive interview – The Marketing Group
TMT | Edison TV | 4 September 2018
The Marketing Group – Ready to roll
TMT | research QuickView | 14 August 2018
The Marketing Group – Ready to move forward
TMT | research Initiation | 14 August 2018
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Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
Actual 12.6 (17.0) (26.3)
Relative* 4.3 (16.8) (25.5)
52-week high/low €70.0/€42.0
*% relative to local index
Key management
Adam Graham CEO