The Mission Group chairman forecasts turnover could reach £200m in next five years
The Mission Marketing Group’s chairman, David Morgan, has predicted that it could grow to become a £200m turnover business in the next five years, despite revealing a turnover fall of seven per cent during the first half of the year.
The parent company of Bray Leino, Story and Big Communications, revealed the fall in turnover by almost £5m to £62.8m was a result of lower media spend from clients, however it still saw a pre-tax headline profit increase of nine per cent at £1.8m.
In an interview posted on YouTube, Morgan explained that within the 12 companies that made up the group, a couple were “struggling a little bit more” than the majority of the agencies which were “in good shape and doing well” and added that he was more optimistic for the second half of the year.
During the first six months of the year, Bray Leino expanded into Singapore, while the group picked up work with brands such as Rolls Royce, Sainsbury’s, Samsung and Fiat.
He described April-Six’s San Francisco office, which opened in the third quarter of last year as “a great success”, and added that the group was also “seeing rewards” from the Singapore office. He went on to say that should a client ask the group to open in a new territory such as Tokyo, it would review the viability of the request, before hinting at further expansion to come.
“I close my eyes and I wonder what this could look like in five years. I think it could become a £200m turnover business and it’s got a lot of really good talented people. If at the end of that period, the world and the advertising industry looks at us and says ‘this is the most respected UK-based group, then that’ll do for me.”
The full video interview with Morgan can be viewed above.
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