Pre-Close Update

 

TIDMMSQ 
 
RNS Number : 0888S 
Media Square PLC 
06 September 2010 
 

Media Square plc (the "Group" or "MSQ") 
PRE-CLOSE UPDATE 
The Board of Directors of Media Square plc (AIM : MSQ), the international 
marketing communications group, today announces the following statement prior to 
entering a closed period in advance of the announcement of its interim results 
for the six months to 31st August 2010.   The Group's interim results will be 
announced in early November. 
The Group has had a solid start to the financial year.  Each month during the 
first half has been profitable at an operating level and the Group is currently 
trading ahead of budget.  This compares to the corresponding six month period 
last year when we reported a headline operating loss of GBP1.5 million. 
Group revenue for the six months is up on the same period last year.  This 
reflects the fact that existing client spending has stabilised and, for the 
first time in three years, we have seen some small growth in net new business, 
which more than compensates for reductions in existing clients' budgets 
As previously announced, the Company secured a new three year banking facility 
in July. This provides a more stable platform for managing the Group's continued 
recovery, but reducing the level of bank debt remains a high priority. 
Despite the significant improvement over the prior year, the Group remains 
cautious about the outlook for H2 (which is typically the Group's busiest 
trading period), given the uncertain economic outlook, especially in the UK and 
the US where the bulk of the Group's revenues are generated.  That said, our 
planned cost reductions both at head office and in agencies have all been 
successfully implemented and we remain confident that the Group is on track to 
meet management expectations for the full year. 
Peter Reid, CEO of Media Square plc, comments: 
"The Group has performed very solidly in the face of what remain challenging 
economic conditions.  While we remain cautious for the next six month period, 
the Group has made considerable progress during H1 and is well placed to benefit 
from a sustained recovery in marketing budgets when it materialises." 
 
For further information please contact: 
+----------------------------+-------------------------------------+ 
| Media Square plc           | www.mediasquare.co.uk               | 
+----------------------------+-------------------------------------+ 
| Roger Parry                | 020 3026 6601                       | 
+----------------------------+-------------------------------------+ 
| Peter Reid                 | 020 3026 6607                       | 
+----------------------------+-------------------------------------+ 
|                            |                                     | 
+----------------------------+-------------------------------------+ 
| Collins Stewart Europe     |                                     | 
| Limited                    |                                     | 
+----------------------------+-------------------------------------+ 
| Adrian Hadden / Stewart    | 020 7523 8350                       | 
| Wallace                    |                                     | 
+----------------------------+-------------------------------------+ 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
 TSTKKBDDABKDOCK