Mission Marketing Group (TMMG); 1H 2018 trading update: an excellent start to the year

Published on 23-07-2018 07:33:41
Author Sparks Team

During the six months ending 30 June 2018, TMMG made total acquisition consideration payments of £4.5m. This resulted in its net bank debt reaching £8.4m as of 30 June 2018 (31 December 2017: £7.2m). The company’s balance sheet remained strong.

TMMG’s net bank debt leverage ratio remained below x1 on 30 June 2018 (31 December 2017: x0.8).

Led by good organic growth, new business wins and progress in its Shared Services project, the company again expects to report strong double-digit growth in headline profit before tax for 1H 2018, along with a continued increase in the profit margins. The recent acquisition of krow Communications has created excellent referral opportunities for other group agencies.

Like the results in recent years, the company expects its results for the year ending 31 December 2018 to have a significant bias towards the second half again. TMMG expects more progress over the rest of the year.

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