9th May 2019 11:50
LONDON (Alliance News) - SEC SpA on Thursday said it expects a sharp rise increase in annual earnings, as it continues with merger talks with Porta Communications PLC.
For 2018, the Italian PR firm expects to report earnings before interest, taxes, depreciation and amortisation of EUR2.6 million, a 57% increase on last year's EUR1.7 million.
Net profits are guided at EUR1.5 million from EUR772,937 a year ago, while revenue is forecast at EUR24 million, up 17%, from EUR21.0 million.
The company's net cash and financial investments at the end of December amounted to EUR1.2 million, due to the different classification attributed to the company's holding in the securities of Porta Communications as a result of the merger talks currently taking place between Porta and the company.
SEC shares were trading down 0.7% at 77.00 pence each.
Related Shares:
PTCM.LSECG.L