The Mission Group expects £7.4m profits for year
The Mission Marketing Group plc (TMMG) has announced revenue growth of 29% in the second half of last year leading up to 31 December 2008.
The group owns agencies such as Edinburgh based Story, Leicester based Big Communications and Fuse Digital, Bristol based Bray Leino and the Bournemouth, Belfast and Edinburgh based RLA Group.
In a statement made ahead of the preliminary results on 16 April, saw on a like-for-like basis with the previous year, a growth in online as the group said that it would continue to maintain a focus on cash generation and cost management.
The company restructured during the second half of last year which, combined with market conditions means an expected profit before tax of £7.4m.
Recently, agencies within The Mission Marketing Group have picked up clients such as Co-Op, Office of National Statistic/Census, Scottish SPCA, Fairview and RNLI.
Despite a strong start to the year, the group will remain cautious and will take ‘proactive steps’ to reschedule certain liabilities in order to strengthen its balance sheet this year and in the future.
Iain Ferguson, chief operating officer, commented: “The environment is certainly unforgiving, but I am pleased that despite this backdrop our trading volumes have held up very well. We have acted during the year to re-tune our cost based, which created some additional short term costs, and we are now well positioned for 2009.”