SEC S.p.A Trading update and results announcement (3979Y)

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RNS Number : 3979Y

SEC S.p.A

09 May 2019

SEC S.p.A.

("SEC" or "the Company")

Trading update and results announcement

SEC, the largest independent advocacy, public relations and integrated communications agency in the Italian market, expects to announce audited results for the year to 31 December 2018 during the week beginning, 20 May 2019.

The Company expects to report revenues of EUR24 million for the year to 31 December 2018, (an increase of 17.3%), an increase in EBITDA to EUR2.6 million (an increase of 59%), and net profits up to EUR1.5 million an increase of 103% (unaudited). The Company's net cash and financial investments at 31 December 2018 will be - EUR1.2 million (unaudited). This is due to the different classification attributed to the Company's holding in the securities of Porta Communications plc ("Porta") which changed from 'Financial Assets Available for Sale' to 'Participations' as a result of the merger talks currently taking place between Porta and the Company.

The improvements secured in 2018 are a result of management time being focused on increasing the delivery of successful client outcomes, boosting existing client growth and generating new business opportunities.

For more information:

SEC S.p.A

Fiorenzo Tagliabue (CEO)

Telephone: [phone]

Arden Partners plc (Nominated adviser and broker)

Tom Price / Steve Douglas / Maria Gomez de Olea

Telephone: [phone]

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May 09, 2019 02:00 ET (06:00 GMT)