2nd Jan 2025 20:13
Mission Group PLC - Devon, England based owner of a group of digital marketing and communications agencies - Seals the sale of its April Six Inc subsidiary to Marketbridge Inc for a total of GBP17.4 million. The net proceeds will go towards paying off debt. Notes net bank debt at December 30 was GBP17.0 million. Including the GBP10.5 million proceeds, pro forma net bank falls to GBP6.5 million. Mission also announces a GBP1.5 million share buyback programme. It also updates on its capital allocation policy. Maintaining a "strong balance sheet" is the priority, then investing in growth and then any surplus cashflow can be returned to investors. "The board expects to return to paying ordinary dividends in 2026," Mission Group adds. Read More
