Ebiquity PLC Pre-close Trading Update (3971D)

TIDMEBQ

RNS Number : 3971D

Ebiquity PLC

19 February 2020

Ebiquity Plc

Pre-close Trading Update

Ebiquity plc ("Ebiquity" or the "Company"), a leading independent marketing and media consultancy, announces a pre-close trading update for the financial year ended 31 December 2019, ahead of the preliminary results announcement planned for 26 March 2020.

Ebiquity's trading for the year ended 31 December 2019 was in line with the Board's expectations. Its performance in the second half of the year was consistent with the trend reported in the first half. The Group continued to experience good revenue growth in its Advanced Analytics, AdTech and Contract Compliance practices and to maintain tight control of operating costs although its Media practice revenue fell slightly compared to the previous year.

The Company's net debt as at 31 December 2019 was GBP5.8 million, compared to GBP7 million at 30 June 2019 and GBP28 million at 31 December 2018 (prior to the disposal of the Advertising Intelligence division). The significantly reduced level of the Group's net debt has provided greater financial flexibility to support future developments. These include the recently announced acquisition of Digital Decisions BV, which enhances the Group's digital media measurement and advisory services.

We believe that the announced closure of Accenture's media auditing practice highlights the need for independence in our sector and will provide opportunities for Ebiquity as the leading independent, global media consultancy to capture market share over the next year or so.

We remain confident that Ebiquity will be able to fulfil its potential and deliver improved performance in the medium term.

Alan Newman, Interim CEO, commented:

"We are pleased to have met expectations in the last year in terms of profitability and grown high potential areas of our business. We continue to re-engineer the business to deliver profitable growth and seize market opportunities that reinforce our position as the leading, independent global media and marketing consultancy, including those arising from the closure of Accenture's media auditing practice."

Enquiries:

 
 Ebiquity plc                             Via Instinctif 
  Alan Newman (Interim Chief Executive          Partners 
  Officer) 
  Mark Sanford (Company Secretary) 
 Instinctif Partners 
  Matthew Smallwood 
  Guy Scarborough                          020 7457 2020 
 Numis Securities Limited 
  Nick Westlake (NOMAD) 
  Matt Lewis                               020 7260 1000 
 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [e-mail] or visit www.rns.com.

END

TSTZZGMZRRKGGZM

(END) Dow Jones Newswires

February 19, 2020 02:00 ET (07:00 GMT)