REG - Mission Group PLC - Trading Update

MissionAnnouncement

13/07/2022 07:01

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RNS Number : 2347S  Mission Group PLC (The)  13 July 2022

13 July 2022

THE MISSION GROUP plc

("MISSION", "the Group")

TRADING UPDATE AND NOTICE OF INTERIM RESULTS

Continued positive trading momentum - full year guidance reaffirmed

The MISSION Group plc (AIM: TMG), creator of Work That Counts TM, comprising a
network of 16 Agencies delivering real, sustainable growth for its Clients,
today provides the following trading update for the six months ended 30 June
2022 ("the period").

MISSION has traded well during the first half of 2022 and performance has been
in line with the Board's expectations.

Despite the ongoing turbulent global economic backdrop, the Group has
maintained its growth trajectory, continued to deliver against its strategy
and successfully managed previously flagged cost headwinds including wage
inflation.

As a result, the Group expects to report revenues for the period of £37.5m
(30 June 2021: £34.1m) with Headline operating profit of £2.2m (30 June
2021: £2.0m). MISSION has a historic second half year weighting in
profitability and remains on track to meet full year guidance.

Strong cash management remains a key priority for the Group and the period has
seen further improvements delivered. Net bank debt at 30 June 2022 was £7.0m,
(31 December 2021: £10.3m). Acquisition obligations remain at a 13-year low
of £2.6m.

New Client wins during the first half included a multiple Group Agency brief
with Taiwanese electrical group, Phihong Technology Co. and MISSION also
secured new wins in the beverages sector with Bottlegreen and Shloer, as well
as CRM for the tourism retailer, On the Beach.

 

Notice of results

MISSION intends to publish its Interim results for the six months ended 30
June 2022 on 27 September 2022.

Commenting on the trading update, James Clifton, Group Chief Executive of The
MISSION Group plc, said:

"I am pleased to report a good performance in the first half, a continuation
of the positive momentum achieved in 2021. Our Agency-first model has enabled
us to be nimble and adaptable in a more challenging market. Our continued
growth, despite an uncertain macroeconomic backdrop, further demonstrates
MISSION's resilience and strength."

 

ENQUIRIES

 James Clifton, Chief Executive Officer

 Giles Lee, Chief Financial Officer

 The MISSION Group plc                            020 7462 1415

 Mark Percy / James Thomas / Fiona Conroy         020 7408 4090

 Shore Capital (Nomad and Broker)

 Kate Hoare / Laura Stewart                       0204 529 0549

 HOUSTON (Financial PR and Investor Relations)

 

 

NOTES TO EDITORS

MISSION is a collective of Creative and MarTech Agencies led by entrepreneurs
who encourage an independent spirit. Employing over 1,000 people across 29
locations and 3 continents, the Group successfully combines its diverse
expertise to produce Work That Counts TM for our Clients, whatever their
ambitions. Creating real standout, sharing real innovation and delivering real
growth for some of the world's biggest brands. www.themission.co.uk
(https://eur03.safelinks.protection.outlook.com/?url=http%3A%2F%2Fwww.themission.co.uk%2F&data=04%7C01%7C%7C2e2f37c792c7415afaad08d947a9c473%7Cb7e4783d67604ed5b0c156d405b9349b%7C0%7C1%7C637619616734507818%7CUnknown%7CTWFpbGZsb3d8eyJWIjoiMC4wLjAwMDAiLCJQIjoiV2luMzIiLCJBTiI6Ik1haWwiLCJXVCI6Mn0%3D%7C2000&sdata=5duO%2FyhgYrmP5I17h1eW4mAaM4%2BhySTEObFl5Dz5R%2Fs%3D&reserved=0)

 

 

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