Porta Communications PLC AGM Statement (7561P)

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RNS Number : 7561P

Porta Communications PLC

31 May 2018

31 May 2018

Porta Communications Plc

("Porta" or the "Company" or the "Group")

AGM Statement

Porta Communications Plc (AIM: PTCM) will hold its Annual General Meeting today at Sky Light City Tower, 50 Basinghall Street, London commencing at 2:00pm, where the Group's Chairman, John Foley, will make the following statement:

"The Porta Group is now led by a management team of experienced and proven leaders who are actively involved with their senior colleagues across the Group in developing an integrated operating strategy to deliver long term, profitable growth.

In the UK, the full combination of Newgate and Redleaf is now underway and will operate under the Newgate brand to create a cohesive business structured to leverage the talent of its team and the strength of its client base.

As a trusted adviser helping both leading and challenger brands, the combination of the two businesses will provide critical mass and a seamless strategic communications consultancy whatever opportunity a client wishes to seize or challenge it needs to address.

The business will focus on 10 key sectors where specialist technical and regulatory knowledge and a profound understanding of market drivers are needed; these include financial services and property where we believe we have one of the most comprehensive offerings in the market.

The Group's regional, national and international office network, along with its integrated offering across financial and corporate communications, public affairs, market research, digital and engagement are important differentiators and are increasingly generating cross-agency and cross-border work for the Group.

The Newgate Network in Asia Pacific, along with Redleaf and 2112 Communications in the UK, continue to be the most profitable businesses in the Group. However, as we announced in April, the first half of 2018 will be a period of further consolidation of the cost base and operating structures of certain UK businesses and this will adversely affect revenue and profits during that period.

The Board is confident that the Group is now better positioned, both as a result of the actions taken in 2017 that began to address the Group's weakened balance sheet which we will continue to review and with a new senior management structure at Board level to take the Group forward."

--ends--

The information contained within this announcement is deemed to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014. Upon the publication of this announcement, this inside information is now considered to be in the public domain.

Enquiries to:

Porta Communications Plc

Brian Tyson, Joint CEO

Emma Kane, Joint CEO

Rhydian Bankes, CFO

Gene Golembiewski, Executive Director

[phone]

Newgate Communications (Media Enquiries)

Bob Huxford

Adam Lloyd

James Ash

[phone]

[e-mail]

Grant Thornton UK LLP (Nominated Adviser)

Samantha Harrison

[phone]

N+1 Singer (Broker)

Mark Taylor

Lauren Kettle

[phone]

Notes for Editors

-- Porta is a fully integrated communications and marketing group with specialisms including financial, corporate and consumer public relations, public affairs and research and multi-capability marketing, brand and creative communications.

-- The group has offices in Abu Dhabi, Beijing, Brisbane, Bristol, Canberra, Cardiff, Edinburgh, Hong Kong, London, Manchester, Melbourne, Perth, Shanghai, Singapore and Sydney.

-- The brands and companies it owns are Newgate Communications, Redleaf Communications, Publicasity and 2112 Communications.

   --      Further information on Porta Communications is available at www.portacomms.com 

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

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(END) Dow Jones Newswires

May 31, 2018 02:00 ET (06:00 GMT)