For the year ended 31 December 2019, The Mission Group expects to report results in line with market expectations and anticipates the group to be debt-free/cash flow-positive at the end of 2020 if the trading profile across the year returns to normal patterns.
The company noted that many Clients left it until the final two months of the year to commit to spending. This was offset by structural, positional and branding changes implemented during the year, according to the company. The working capital requirements at the end of the year were due to the back-ended nature of the company’s trading.
David Morgan, Chairman, commented: “2019 was a year of unprecedented uncertainty and I am incredibly proud that the Group has yet again achieved a year of revenue and profit growth. We are looking to increase investment in our business through 2020 given the advances we are making in technology and geography as we continue to expand our offering into new Clients and new markets. More than ever, I am convinced that our positioning as a nimble and entrepreneurial group is right for our times and I remain very positive about MISSION’s prospects for the future.”