27th Sep 2013 07:36
LONDON (Alliance News) - Porta Communications PLC saw shares jump 36% Friday morning after it reported a five-times increase in revenues in the half-year ended June 30.
Shares in the communications and marketing business were trading at 12.43 pence Friday morning.
The company posted revenues of GBP8.5 million, up from GBP1.7 million in the previous year.
The company said that revenue generated for the half year was higher than for its whole financial year ended December 2012, and that it remained confidence about its prospects for the second half of the year.
However, pretax losses widened slightly to GBP1.5 million from GBP1.2 million, as administrative expenses rose to GBP5.7 million from GBP2.8 million. Porta Communications said many of the start-up costs it incurred in 2013 and 2012 are not expected to recur in 2014.
Newgate Communications London had a strong first half after new business wins, the company said, and it is expected to make a strong contribution to performance in 2012. The company also said that Newgate Threadneedle, its financial PR adviser company, has performed well. The company has expanded in Singapore, Hong Kong and Australia and said it was continuing to expand its international reach, with plans for offices in Abu Dhabi, Qatar, Beijing and Shanghai ahead.
Porta Communications said that the second half would see a better performance than the first, and it was therefore very likely it would continue to experience strong growth in 2014.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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