21st January
2025
THE MISSION GROUP
plc
("MISSION", the
"Group")
2024 Full
Year Trading Update
Strong,
profitable growth in 2024 underpins confidence for
2025
The MISSION Group plc (AIM:TMG), the Brand
Performance Group, comprising of digital marketing and specialist
communications Agencies, provides a trading update for the
financial year ended 31 December 2024 ("FY2024").
The Group continued to see a
resilient trading performance in the second half of the financial
year across all segments. The Board therefore expects to report
FY2024 revenue (operating income) of £88m (FY2023 +2%). The Group's
diligent cost control over the course of the year underpinned
profitable growth with headline operating profit expected to be
between £9.0m - £9.2m; up approximately 38% on the prior year and
in line with market expectations*. Headline operating margins
are expected to be 10.5% for FY2024, an improvement of 40% on
FY2023.
Net bank debt on 31 December 2024,
following receipt of the proceeds of the disposal of April Six, was
£9.4m. As previously outlined, additional receipts of up to a
maximum of £4.2m for the earn out payment linked to EBITDA from the
April Six transaction are expected.
The Value Restoration Plan announced
in December 2023 is now complete, as evidenced by the strong margin
and profit improvements and significantly reduced bank leverage
ratio.
The Board was also pleased to
publish its updated Capital Allocation Policy on 2 January 2025
with a commitment to return up to £1.5m to shareholders by way of
an on-market Share Buyback. The Share Buyback programme has
begun and £0.13m has been returned to date.
MISSION will announce its final
results on 25 March 2025.
Commenting, Mark Lund,
Interim Chief Executive Officer of MISSION said:
"2024 has seen MISSION not only deliver a resilient
trading performance but take great strides to strengthen the
business for the future, ensuring we are leaner and less complex
with a significantly improved balance sheet.
We enter 2025 with momentum and
confidence and look forward to capitalising
further on this progress as we focus on delivering for our Clients,
our people and our shareholders."
* Footnote
April Six is expected to deliver
revenues of £11.8m and a headline operating profit of £1.0m in
FY2024 (£0.2m loss in FY2023).
Consensus headline operating profit
for 2024 is £9.2m.
ENQUIRIES:
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Cat Davis - Group Marketing
Director
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Via Houston
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E: cdavis@themission.co.uk
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The MISSION Group PLC
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Simon Bridges/Andrew Potts/Harry
Rees
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020 7523 8000
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Canaccord Genuity Limited
(Financial Adviser, Nominated
Adviser and Broker)
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Peter Tracey
Blackdown Partners Limited
(Financial
Adviser)
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020 3807 8484
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Kate Hoare/Alexander Clelland/India
Spencer
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0204 529 0549
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E: mission@houston.co.uk
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Houston PR
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NOTES TO EDITORS
The MISSION Group Plc. is The Brand
Performance Group.
Delivering measurable, results-driven
campaigns as the preferred creative partner for real business
growth. We offer top-tier agencies, strategic specialisms and
global reach delivering outstanding performance for brands. We call
it Work That Counts™ www.themission.co.uk
