Proactive Investors - Run By Investors For Investors

Porta says the outlook is improving post-Brexit

“The outlook is undoubtedly strengthening all the time now that the Brexit vote is behind us, but we cannot relax our resolve in growing the business,” said chief executive David Wright.
Porta says the outlook is improving post-Brexit
The uncertainty caused by Brexit didn't help the business. But it is back on track.

Porta Communications PLC (PTCM) said the outlook was “undoubtedly strengthening” after reporting that a decent start to the year had been derailed by the UK’s vote to quit Europe.

"After the first five months the group was running ahead of budget,” said chief executive David Wright.

“In our May 2016 trading statement, however, we indicated that the uncertainty caused by the referendum and the subsequent Brexit vote had a marked impact on project work in the UK where we are particularly exposed to the housing and property sectors.”

The marketing and communications specialist said revenues for the six months to June 30 were slightly ahead at £17.8mln, while underlying earnings (EBIDTA) fell to £692,000. EBITDA was virtually flat after adding back a £120,000 impairment of collateral held on a loan.

Star of the show was the Asia-Pacific region, where organic growth was 11%.

New client wins including included Permira, Legal & General Investment Management and the Rugby Football Union.

“The outlook is undoubtedly strengthening all the time now that the Brexit vote is behind us, but we cannot relax our resolve in growing the business,” said Wright.

“We can say with confidence that the platform is there to continue driving the business forward.”

Porta said non-executive director Brian Blasdale will be step down from the board at the end of November to be replaced by John Foley.

View full PTCM profile View Profile

Porta Communications PLC Timeline

Related Articles

ipad
September 19 2018
“Cello Health is successfully building its early stage asset development advisory platform for biotech clients, as well as growing its core later stage and post-launch franchise with pharmaceutical clients”
Marketing and public relations
April 04 2018
"Our Beyond, MBooth and Publitek agencies have been stand-out performers, whilst we have achieved solid performances pretty much across the portfolio"
Mobile users holding phones up
September 05 2018
The mobile advertiser is placing itself at the forefront of the digital revolution as companies and brands increasingly look to the web as the next forefront of advertising

© Proactive Investors 2018

Proactive Investors Limited, trading as “Proactiveinvestors United Kingdom”, is Authorised and regulated by the Financial Conduct Authority.
Registered in England with Company Registration number 05639690. Group VAT registration number 872070825 FCA Registration number 559082. You can contact us here.

Market Indices, Commodities and Regulatory News Headlines copyright © Morningstar. Data delayed 15 minutes unless otherwise indicated. Terms of use