Ebiquity PLC Pre-close trading statement (1425V)
January 26 2017 - 1:00AM
UK Regulatory
TIDMEBQ
RNS Number : 1425V
Ebiquity PLC
26 January 2017
Ebiquity Plc
("the Company")
Pre-close trading statement
Ebiquity plc, the leading independent marketing analytics
specialists, today announces its pre-close trading statement for
the year ended 31 December 2016 ("the year").
Ebiquity has continued to grow revenue with an increase in total
unaudited revenues of 9%. Group margins are broadly in line with
those achieved in 2015, with anticipated mid-single digit growth in
operating profit and earnings. Ebiquity continued to benefit from
the weakness of sterling, particularly in the second half of the
year, with two-thirds of revenue denominated in non-sterling
currency. FX revenue gains across the year amounted to GBP4.5m.
The Company remains on track with the milestones outlined in our
Growth Acceleration Plan, including the roll out of our
effectiveness services to Asia Pacific and the continued
development of our digital products and services.
The Marketing Performance Optimization ("MPO") practice
continues to be a rapidly growing part of our business and
performed in line with management expectations. We outlined in our
growth acceleration plan our intention to expand our Marketing
Effectiveness offering to Asia Pacific, and we were pleased to see
that in the second half of the year we commenced our first contract
in Australia.
The Media Value Measurement ("MVM") practice, outside of our
contract compliance business, has grown strongly across all regions
in line with management expectations. However, in our contract
compliance business (which represents a minority of MVM revenues)
we have experienced a slow-down in revenue due to clients taking
more time to act on the findings of the US Association of National
Advertisers' ("ANA") Media Transparency reports. We continue to
view the ANA Report and its findings as a long term growth driver
for the MVM practice.
Within the Market Intelligence ("MI") practice revenues from our
platform business (Portfolio), which accounts for over 90% of MI
revenue, stabilised year on year outside the US where revenue
reflected pressure on client budgets. Our new Ebiquity Portfolio
platform was launched in September and has now been successfully
rolled out to most clients globally. Additionally, we launched our
market leading Portfolio Digital service in Asia Pacific which will
roll out across Europe and North America in the coming weeks.
Portfolio Digital distinguishes between direct and programmatically
bought adverts on desktop and mobile, captures HTML5, rich media,
embedded video, and tracks behaviourally targeted adverts.
The start to 2017 has seen a noticeable pick up in new business
activity and consequently the Company has better revenue visibility
as compared with the prior year. This provides management with
early confidence in achieving its operational and financial
objectives for 2017.
In light of the continuing revenue growth, cash generation and
the visibility into 2017, the Board anticipates the continuation of
our progressive dividend policy.
The Company will release its preliminary results for the year
ended 31 December 2016 on 28 March 2017.
26 January 2017
Enquiries:
Ebiquity plc
Michael Karg (CEO)
Andrew Noble (CFO) 020 7650 9600
Instinctif Partners
Matthew Smallwood
Guy Scarborough 020 7457 2020
Numis Securities Limited
Nick Westlake (NOMAD)
Toby Adcock (Corporate
Broker) 020 7260 1000
This information is provided by RNS
The company news service from the London Stock Exchange
END
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