Stock Market News
Mission Marketing ups dividend after 'very decent year'
Communications and advertising group the Mission Marketing Group saw revenue and profits move ahead in what its chairman called a "very decent year".
Mission's pre-tax profits came in at £7.7m in the year ended 31 December, a 10% increase on the previous trading year, boosted, in part, by a 6% uptick in revenue of £65.9m and the firm's success in lowering its total debt position.
Diluted earnings per share grew 11% to 7.12p.
David Morgan, Mission's chairman, said, "Whichever way we look at it, 2017 was a very decent year for the Mission. Most of our agencies performed exceptionally, we reduced our debt significantly, made a strategic acquisition and maintained our progressive dividend policy all against a market backdrop of uncertainty and challenge."
In a separate announcement, Mission announced that it had acquired award-winning creative agency Krow Communications for an initial consideration of £2.75m, to be satisfied in cash.
AIM-quoted Mission expects the acquisition of the London-based agency to be immediately earnings enhancing.
"We will benefit from the contribution of newly-acquired Krow Communications, announced today, and we also expect to see an improvement in margins as our various initiatives kick in. All in all, we expect 2018 to be a year of strong growth," Morgan added.
Mission also announced a full year dividend of 1.7p, up 13% year-on-year.
As of 0940 BST, shares had collected 8.57% to 49.40p.
Mission's pre-tax profits came in at £7.7m in the year ended 31 December, a 10% increase on the previous trading year, boosted, in part, by a 6% uptick in revenue of £65.9m and the firm's success in lowering its total debt position.
Diluted earnings per share grew 11% to 7.12p.
David Morgan, Mission's chairman, said, "Whichever way we look at it, 2017 was a very decent year for the Mission. Most of our agencies performed exceptionally, we reduced our debt significantly, made a strategic acquisition and maintained our progressive dividend policy all against a market backdrop of uncertainty and challenge."
In a separate announcement, Mission announced that it had acquired award-winning creative agency Krow Communications for an initial consideration of £2.75m, to be satisfied in cash.
AIM-quoted Mission expects the acquisition of the London-based agency to be immediately earnings enhancing.
"We will benefit from the contribution of newly-acquired Krow Communications, announced today, and we also expect to see an improvement in margins as our various initiatives kick in. All in all, we expect 2018 to be a year of strong growth," Morgan added.
Mission also announced a full year dividend of 1.7p, up 13% year-on-year.
As of 0940 BST, shares had collected 8.57% to 49.40p.
Related share prices |
---|
Mission Marketing Group (TMMG) share price |
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price