REG - Mission Group PLC - 2024 Full Year Trading Update

MissionAnnouncement

21/01/2025 07:00

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RNS Number : 0261U  Mission Group PLC (The)  21 January 2025

21(st) 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:    

 

 Cat Davis - Group Marketing Director                                      Via Houston
 E: cdavis@themission.co.uk (mailto:cdavis@themission.co.uk)
 The MISSION Group PLC

 Simon Bridges/Andrew Potts/Harry Rees                                     020 7523 8000
 Canaccord Genuity Limited

 (Financial Adviser, Nominated Adviser and Broker)

 Peter Tracey                                                              020 3807 8484

 Blackdown Partners Limited

 (Financial Adviser)

 Kate Hoare/Alexander Clelland/India Spencer                               0204 529 0549
 E: mission@houston.co.uk (mailto:mission@houston.co.uk)
 Houston PR

 

 

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
(http://www.themission.co.uk/)

 

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