The MISSION Group

LN: TMG

Market Cap£44m

Last Close 48p

The MISSION Group is a collective of integrated and specialist creative agencies, employing 1,150 people in the UK, Europe, Asia and the US.

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Investment summary

The MISSION Group’s first-half results are as presaged in July’s trading update, with 10% growth in both revenue and operating profit. Exposure to the technology and healthcare industries is a net positive and recovery in live events and property also contributed to progress. The strengthened balance sheet equips the group to continue with infill M&A. FY22e and FY23e market estimates are unchanged, with profits (as usual) weighted to Q4, taking into account a likely less favourable trading backdrop in H222 in some operating territories. The shares have outperformed peers year to date, but continue to trade at a substantial discount.

Y/E Dec
Revenue (£m)
EBITDA (£m)
PBT (£m)
EPS (fd) (p)
P/E (x)
P/CF (x)
2020A 61.5 3.1 1.2 1.0 48.0 3.7
2021A 72.5 9.1 7.5 6.5 7.4 7.6
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 MISSION Group
The MISSION Group – Good H122 despite market headwinds
TMT | research QuickView | 27 September 2022
The MISSION Group – H122 trading on track
TMT | research QuickView | 13 July 2022
The Mission Group – Making the work count
TMT | research QuickView | 29 March 2022
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Share price graph
Balance sheet
Forecast net debt (£m) N/A
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual (19.3) (11.1) (35.6)
Relative* (13.9) (6.1) (31.9)
52-week high/low 74.0p/46.0p
*% relative to local index
Key management
James Clifton CEO
Peter Fitzwilliam CFO