29th Jul 2013 07:00
PORTA COMMUNICATIONS PLC("Porta" or "the Group")Pre-Close Trading Statement
Porta Communications (AIM: PTCM), the international marketing and communications group is pleased to announce an update on trading for the 6 month period ended 30 June 2013.
Trading in the first six months of 2013 has shown a significant improvement over the comparable period of 2012. Revenue in the six months to 30 June 2013 was nearly five times higher than in 2012 matching the level for the whole of that year.
The Board remains confident of the Group's prospects and expect another substantial growth in revenue in the second half of the year. The Holmes Report, the leading international trade publication shows Newgate Communications, (Porta's international public relations brand) to be the fastest growing agency globally with a growth rate of over 330 per cent against 199 per cent for the second ranking agency based in Indonesia.
Towards the end of the first half, two of Porta's three original start-up companies produced profits for the first time. This trend will continue into the second half of the year as the Group looks to produce profits similar to first half losses even allowing for the start-up losses of the new ventures in the Asia Pacific region. These new Companies are run by highly sought after practitioners, and are all expected to produce exciting profits growth in 2014 and beyond. The opportunities available in both Australia and Singapore have proved to be more substantial than originally anticipated and therefore required greater investment, which we believe will create more substantial businesses and provide greater returns in the future.
The rest of the Group has performed very well with significant new business wins across all divisions. This has resulted in not only increased recurring revenues but also high profile project wins within the period. Many of the recent new business wins have been a result of the broad international offering that the Group is now able to provide. Each division continues to experience heightened levels of new business opportunities as market sentiment continues to improve.
In addition the Group is looking to acquire a number of established income producing companies in the second half to bolster both the Newgate global brand and its consumer advertising agency TTMV, based in Tunbridge Wells.
In less than two years the Group has become a well-established marketing and communications group, with a comprehensive international network and a base of businesses that the Board are confident will deliver and sustain future growth.
-ENDS-
Enquiries
Porta Communications plcwww.portacomms.com David Wright, Chief ExecutiveGene Golembiewski, Finance Director | +44 (0) 20 7680 6500
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N+1 Singer Shaun DobsonJonny Franklin-AdamsAlex Wright | +44 (0) 20 7496 3000 |
Newgate Threadneedle Ltd Graham Herring | +44 (0)20 7653 9850 |
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