The Mission Marketing Group, owner of marketing services agencies such as Bray Leino, Story, RLA, Big Dog and Krow, has revealed that it expects ‘significant bias’ towards the second half of the year in delivering business success, in an update to the stock market.
The statement to the market claimed that the group had “had an excellent start to the year” and that it expected to report double-digital headline pre-tax profit for the first half of 2018, it also stated an expectancy of an increase in profit in tandem.
“The group’s balance sheet remains strong,” the company said in a statement, noting the introduction of a “working capital reduction” at the end of last year and consideration payments of £4.5m following the £14.5m acquisition of Krow in April. This has led to the net bank debt for the business increasing from £7.2m last year to £8.4m.
Year-end results for the business will be published on 31 December, with the business adding “we look forward to further progress over the remainder of the year”.
Interim results for the first half of the year are scheduled to be announced on 19 September.