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SEC Newgate S.p.A. - Trading Update

RNS Number : 8673L
SEC Newgate S.p.A.
05 May 2020
 

 

 

The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

 

5 May 2020

 

SEC Newgate S.p.A.

  ("SEC Newgate", the "Group" or the "Company")

Trading Update

The Board of SEC Newgate (AIM:SECG), the international communications, advocacy and research group, today provides the following trading update.

 

The Group had an excellent start to the current year with all businesses performing in line with or ahead of budget and management expectations.

 

The Group's two largest subsidiaries, Newgate Communications in the UK and Newgate Australia, both enjoyed record levels of profit before tax for the three months to 31 March 2020. A strong performance was also achieved by Cambre (Bruxellles), CLAI (Paris), SEC Newgate Colombia (Bogotà) and SEC and Partners (Rome).

 

Since the outbreak of the global pandemic, Covid-19, the Group's agencies have all implemented business continuity plans, working remotely under varying levels of lockdowns in their markets around the world.  The Group has taken all necessary steps to reduce any discretionary spend and ensure strong cashflow generation whilst ensuring it continues to develop and support its 600 people around the world, service its clients, and build market share.  The Group continues to operate profitably with teams working collaboratively and sharing best practice initiatives and experiences.  All businesses have quickly adapted to the changed working environment and continue to provide first class service to clients through online and digital engagement capabilities.

 

In November 2019, the Group unveiled its three-year Strategic Plan.  The steps taken since have put the Group on a stronger and more sustainable financial foundation.  The Group has committed banking facilities available with maintainable covenants and continues to enjoy excellent relationships with its lenders to support the Group through this difficult period. It also benefits from the recent Euro 2.5m Convertible Bond issue and a new Euro 3m four-year banking facility with Deutsche Bank S.P.A announced in December 2019.

 

On 29 April 2020, the Group was delighted to be confirmed at 26th position in the PRovoke (formerly Holmes Report) top 250 global agencies, rising from 53rd  in 2019. This is another important milestone for the Group as it drives to build market share and brand profile globally.

 

Commenting, Fiorenzo Tagliabue, Group Chief Executive, said:

 

"We are very pleased with the way our Group is performing.  The recent industry rankings are a validation of the significant progress we are making.  I am extremely proud of our team which is powered by its entrepreneurial spirit, collaborative approach, and determination to be the most desired agency in the world.  We look forward to updating the market when we announce our results at the beginning of June 2020." 

- ends -

Further information:

For further information please contact:

SEC   Newgate   S.p.A.


 

 

Fiorenzo Tagliabue (Group CEO)

Tel: +39 335 6008858

[email protected]

 

 

Emma Kane (Deputy Group CEO, 

CEO Newgate Communications UK)

 

Tel: +44 (0) 7876 338339

[email protected]

 

Federico Vecchio (Group CFO)

Tel: +44 (0) 20 7680 6500

[email protected]

 

 

Arden Partners  (Nominated Adviser and Broker)


 

Richard Johnson / Benjamin Cryer 

 

Tel: +44 207 614 5900

 

Notes to Editors about SEC Newgate

·    Further information is available at  www.secnewgate.com  

·    On 3 September 2019, SEC S.p.A. and Porta Communications Plc merged to create SEC Newgate S.p.A. 

·    The Group's principal brands are:  ACH SEC Global (Spain); Cambre Associates (Belgium); Cambre Maroc (Morocco); Clai (France); Kohl PR (Germany); Martis Consulting (Poland); SEC Latam (Colombia); Newgate Communications (Abu Dhabi, Australia, Greater China, Singapore, UK); Newington (UK); Publicasity (UK); SEC Newgate S.p.A. (Italy); and 2112 (UK).

 

 


This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit www.rns.com.
 
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Quick facts: SEC Newgate S.p.A

Price: 31

Market: AIM
Market Cap: £7.52 m
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