Ebiquity PLC Pre-close Trading Update (0173P)

TIDMEBQ

RNS Number : 0173P

Ebiquity PLC

15 February 2021

Ebiquity Plc

Pre-close Trading Update

Ebiquity plc ("Ebiquity" or the "Group"), a leading independent marketing and media consultancy, announces a pre-close trading update for the financial year ended 31 December 2020, ahead of the preliminary results announcement planned for 25 March 2021.

Ebiquity's trading for the year ended 31 December 2020 was in line with the Board's expectations with higher revenue in the second half of the year than in the first. This reflected both the recovery in demand from existing clients as they returned to more normal activity levels, and success in winning new business. As expected, the Group returned to profitability in the second half, although it is likely to report a small adjusted operating loss for the full year.

Additionally, the Group's net debt of GBP7.7 million as at 31 December 2020 was in line with expectations.

Nick Waters, CEO, commented:

"We are pleased to have delivered on expectations in the second half of 2020, reflecting new business wins as well as a recovery of activity by existing clients, who include the world's leading advertisers. We thank our staff for their resilience in coping with the challenges created by the Covid-19 pandemic over the last year. We took appropriate actions to preserve jobs, serve our clients and manage the business prudently.

We have made an encouraging start to the new financial year and together with our strong balance sheet, we are well placed to reinforce our position as the leading, independent global media consultancy."

Enquiries:

 
 Ebiquity plc                              Via Instinctif 
  Nick Waters (Chief Executive Officer)          Partners 
  Alan Newman (Chief Financial and 
  Operating Officer) 
 Instinctif Partners 
  Matthew Smallwood 
  Guy Scarborough                           020 7457 2020 
 Numis Securities Limited 
  Nick Westlake (NOMAD) 
  Matt Lewis                                020 7260 1000 
 

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February 15, 2021 02:00 ET (07:00 GMT)