26th Jun 2014 07:00
26 June 2014
Porta Communications PLC
(the "Group")
AGM Trading Statement
David Wright, Chief Executive of Porta Communications PLC, the leading international marketing and communications services Group, will make the following statement at the Group's Annual General Meeting today:
"After five months of the current year, the performance of the Group remains on track, making substantial progress towards our goal of delivering positive EBITDA after all costs for the full year. Our growth trajectory continues with gross profit (fee income) growing by approximately 2.4 times to over £8 million and EBITDA, after all costs, increasing by approximately £1.6 million to approximately £0.8 million, when compared to the first five months of the prior year.
"The Communications division, which represents the largest part of the Group under the global Newgate brand, has performed ahead of budget, particularly in Australia. We are experiencing strong new business flows and the Board currently believes that this trend will continue for the remainder of the year.
"The performance of the Marketing and Advertising division was under budget in the year to date, however following the implementation of efficiency measures coupled with new client wins the Board expects an improved performance from this division during the remainder of the year."
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