Brief: Mission Group Board Commences Operational Review; To Cancel Interim Dividend

Mission

23/10/2023 07:12

Oct 23 (Reuters) - Mission Group PLC  TMGT.L :
    * MISSION GROUP PLC  - TRADING UPDATE AND REVISED OUTLOOK
FOR 2023
    * MISSION GROUP - BOARD HAS COMMENCED DETAILED OPERATIONAL
REVIEW
INCLUDING AN IMMEDIATE REASSESSMENT OF FINANCIAL EXPECTATIONS
AND RESOURCE ALLOCATION
    * MISSION GROUP PLC - REVIEW WILL TAKE INTO ACCOUNT
REDUCTION OR
REPHASING OF REVENUES IN IMPACTED BUSINESS UNITS
    * MISSION GROUP PLC - HAS BEGUN TO IDENTIFY CERTAIN CHANGES
TO
OPERATING COSTS THAT WILL BENEFIT IN PART FY2023, AND FY2024
    * MISSION GROUP PLC - FULL YEAR REVENUE GROWTH IS EXPECTED
TO BE
BETWEEN 8%-9%, INCLUDING IMPACT OF 2023 ACQUISITION
    * MISSION GROUP PLC - BOARD NOW BELIEVES THAT OUTTURN FOR
FY2023
WILL BE MATERIALLY BELOW MARKET EXPECTATIONS
    * MISSION GROUP PLC - FY2023 HEADLINE PROFITS BEFORE TAX ARE
NOT
EXPECTED TO BE MORE THAN £3.1M
    * MISSION GROUP PLC - NET DEBT IS EXPECTED TO BE
APPROXIMATELY
£24.0M AS AT 31 DECEMBER 2023
    * MISSION GROUP PLC - BOARD HAS DECIDED THAT IT IS IN BEST
INTERESTS OF SHAREHOLDERS TO CANCEL INTERIM DIVIDEND OF 0.87
PENCE PER SHARE

Source text for Eikon:  ID:nRSW8837Qa 
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