4th Feb 2020 13:00
(Alliance News) - AIM-listed SEC Newgate SpA on Tuesday said it had a "strong" start to 2020.
SEC Newgate was created following a merger of Porta Communications and SEC in September 2019.
The communications, advocacy and research company said it expects to report 2019 results in line with expectations, with a combined turnover in excess of EUR47 million, operating profit of EUR2.3 million and pretax profit of EUR1.6 million.
For 2018, SEC alone delivered pretax profit of EUR2.2 million on revenue of EUR24.6 million, while Porta suffered a pretax loss of GBP4.1 million on revenue of GBP35.9 million.
"The unaudited consolidated figures reflect the significant progress we have made since the merger in September 2019," said Chief Executive Fiorenzo Tagliabue.
"We are committed to creating positive change for our people, clients and shareholders and have had a strong start to the new financial year," added Tagliabue.
SEC Newgate shares were trading 14% higher in London on Tuesday at 41.50 pence each.
By Evelina Grecenko; [email protected]
Copyright 2020 Alliance News Limited. All Rights Reserved.e
Related Shares:
SECG.L