Mission Group PLC (The) Trading Update (2974H)
27 Juillet 2023 - 8:01AM
UK Regulatory
TIDMTMG
RNS Number : 2974H
Mission Group PLC (The)
27 July 2023
27 July 2023
The MISSION Group plc
("MISSION" "The Company" or "The Group")
TRADING UPDATE AND NOTICE OF RESULTS
MISSION Group plc (AIM: TMG), creator of Work That Counts(TM) ,
comprising a group of digital marketing and communications Agencies
delivering real, sustainable growth for its Clients, is pleased to
issue a trading update for the six months ended 30 June 2023 ("the
period" or "H1").
Trading Update
MISSION has secured notable new Client wins during H1,
including; UK Space Agency, Macmillan Coffee Morning, M1 Telecom,
Goldman Sachs, Jägermeister and Worldpay, among others, and looking
ahead, the new business pipeline remains strong.
As a result, the Group expects to report overall revenue growth
of 12 percent to GBP42.0m (30 June 2022: GBP37.5m) for the period,
with headline operating profit of GBP1.9m (30 June 2022: GBP2.2m).
Headline profit before tax for the period has been impacted by
higher interest rates and is expected to be GBP1.0m (30 June 2022:
GBP1.8m).
Revenue growth has been driven by strong progress across
MISSION's Lifestyle & Property, Sports & Entertainment and
B2B sectors. However, the Group has not been immune from the
challenges in the US technology sector and the reduced level of
activity in this market in 2023 has impacted margin mix,
particularly in comparison to 2022.
MISSION has a significant second-half weighting with respect to
profitability. Revenue growth is anticipated across all sectors
with run rates from the US technology sector starting to return to
2022 levels. Whilst the Group remains on track to meet full-year
guidance, profitability is likely to be at the lower end of the
Board's expectations, with profit before tax expected to exceed
that of 2022 (GBP7.8m).
In line with its stated strategy for growth, the Group continues
to expand its capabilities in new areas of opportunity. In H1, this
included the acquisition of Mezzo Labs, a global data science and
digital analytics consultancy, and the launch of Turbine, an
integrated Growth Media agency specialising in earned, owned and
paid media for consumer brands.
MISSION has been pleased with the progress made to integrate
both these offerings into the wider Group and continues to drive
cross-Agency synergies.
Commenting, James Clifton, Chief Executive Officer of MISSION
said:
"Despite the more challenging trading environment, it is
pleasing to see double-digit revenue growth and continued strong
Client retention and acquisition. The investments made across the
Group in recent years underpin a robust performance for the
period.
"We enter H2 with a degree of caution linked to the wider
economic backdrop but with the tailwind of notable Client wins and
an encouraging pipeline of new business opportunities, which
reinforce the Board's confidence in the long-term outlook for the
Group."
Notice of Results
The Group expects to announce its interim results for the six
months ended 30 June 2023 on 26 September 2023.
ENDS
ENQUIRIES:
James Clifton, Chief Executive Officer
G iles Lee , Chief Financial Officer
The MISSION Group plc 020 7462 1415
Simon Bridges / Andrew Potts / Harry Rees
Canaccord Genuity Limited (Nominated Adviser
and Broker) 020 7523 8000
Kate Hoare / Alexander Clelland / India Spencer
HOUSTON (Financial PR and Investor Relations) 0204 529 0549
NOTES TO EDITORS
MISSION is a collective of Creative and MarTech Agencies led by
entrepreneurs who encourage an independent spirit. Employing over
1,000 people across 29 locations and 3 continents, the Group
successfully combines its diverse expertise to produce Work That
Counts TM for our Clients, whatever their ambitions. Creating real
standout, sharing real innovation and delivering real growth for
some of the world's biggest brands. www.themission.co.uk
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END
TSTUNVARONUBUAR
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July 27, 2023 02:01 ET (06:01 GMT)
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