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Porta strong end to year boosts profits; 2016 shaping up well

In a trading update, the marketing and communications specialist said headline EBITDA was up 40% in the second half.

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The figures are starting to stack up as the company enjoyed a strong end to the year.

Porta (LON:PTCM) finished the year on a high note and expects the momentum to carry into 2016.

In a trading update, the marketing and communications specialist said headline EBITDA was up 40% in the second half and will be ahead 17% for 2015 as a whole.

The strong performance has come despite the closure of the Brussels and Frankfurt offices as well as the closure of “non-performing” companies and account groups.

Exceptional costs are expected to be high as a result of the reorganisation, Porta said.

The appointment of Steffan Williams as managing director in September is already having a direct and positive impact on the financial PR arm Newgate in particular, which snagged the account to represent mining major Glencore.

“Prospects for the current year look very exciting given the internal changes made and the quality of new senior recruits,” Porta told investors.

“New business levels and opportunities are extremely buoyant and we are looking at a number of potential acquisitions that will accelerate our growth plans if successful.”

Quick facts: SEC Newgate S.p.A

Price: 42.5 GBX

AIM:SECG
Market: AIM
Market Cap: £10.31 m
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