12th Dec 2018 10:15
LONDON (Alliance News) - Huntsworth PLC on Wednesday said it expects to achieve market expectations in 2018, helped by strong growth in Medical and Immersive divisions.
The stock was trading 9.8% higher on Wednesday at 106.50 pence a share.
Huntsworth said it expects its pretax profit to reach at least GBP29.4 million in the year to the end of December. In 2017, it reported pretax profit profit of GBP22.9 million.
The healthcare company said trading in 2018 has been led by continuing strong growth in the Medical and Immersive divisions, with both delivering double-digit annual revenue growth.
The Marketing division, led by Evoke, returned to like-for-like revenue growth in the second half, Huntsworth said, posting 2% growth. However, annualised revenue performance is expected to decline by 3% on a like-for-like basis.
Evoke markets prescription drugs to consumers and professionals both in the US and Europe.
Creative healthcare agency Giant and payer marketing firm Navience, which Huntsworth acquired in the past five months, both have been integrated well and are trading in line with expectations, it said.
The Communications division also has continued to trade in line with the expectations with annual revenue decline stabilised at 5%, and margin improved in the second half over the first.
Looking ahead, Huntsworth said it intends to focus on delivering "superior" growth led by its healthcare agencies and recent acquisitions.
"Management is confident about the group's future trading and expects continued good growth across all of its businesses into 2019," Huntsworth said in the statement.
Related Shares:
HNT.L