27th May 2015 09:05
LONDON (Alliance News) - Ebiquity PLC Wednesday reiterated plans to recommend a maiden dividend when it reports its full-year results, and whilst it expects to see a hit from the strength of sterling, at constant currency its pretax profit for its recently ended financial year will be in line with its expectations.
Ebiquity said it expects to see a similar hit to pretax profit from the strength of sterling in its second half as it saw in its first half. The company derives around 75% of its revenue from outside of the UK.
During the year to end-April, Ebiquity said it produced single-digit revenue growth on a like-for-like, constant currency basis. This has been driven by a strong performance from its Marketing Performance Optimisation and Media Value Measurement divisions.
This offset a weaker performance from the Market Intelligence division, which continued to experience a highly competitive market, although Ebiquity said the hit to revenue during the year was at a slower rate than in the previous year.
The company has invested heavily in its people and technology, it said, and noted that whilst this has helped drive up business wins in the final quarter of the just-completed financial year, a majority of the revenue from these wins will be recognised in the new financial year, which combined with the heavy investment is likely to result in some softening of margins for the recent year.
"We continue to see positive client engagement and increasing contract sizes. We begin the current year with a very strong pipeline of new business and high visibility over the company's revenue targets for the current year," the company said in a statement.
Ebiquity will report its full-year results on July 29.
Shares in Ebiquity are trading down 2.0% at 121.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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