Proactive Investors - Run By Investors For Investors

Porta Communications sees first half profits jump as it readies itself for next stage of growth

Gross profits rose 20% to £16.5mln in the first half, on higher revenues of £19.4mln
public relations
Porta has made some board changes in recent months to take it to the next level

Porta Communications PLC (LON:PTCM) has told investors it is well placed for the next stage of its development after a solid first half of the year.

The company – which is behind City PR firms such as Newgate and Redleaf – saw revenues grow 9% to £19.44mln (H1 2016: £17.80mln) in the six months to 30 June.

Revenus and profits rise

Gross profits rose 20% to £16.48mln (H1 2016: £13.76mln) while headline EBITDA (underlying earnings) jumped 24% to £1.16mln (H1 2016: £0.94mln).

The strong growth on the top and bottom lines is all organic as well, with Porta not making any additions during the opening half.

The strongest trading performance came from its Asia-Pacific business, which saw revenues rise 55% year-on-year.

READ: Porta founder hands over the reins

Since the period end, Porta has installed a new board to help drive the next phase of its development and profitability as it looks to build on a “solid” first half.

Still trading ahead of last year

“Porta is in the next phase of its development,” said chief executive Steffan Williams.

“In addition to the solid first half performance and the successful ongoing strengthening of our balance sheet, we have made a number of changes to the board and management team which are having a positive effect on the performance of the business.

“The group is trading ahead of last year and we look forward to building on the strong progress made in the first half.”

Shares opened 7% lower at 3.61p on Friday.

View full PTCM profile View Profile

Porta Communications PLC Timeline

Related Articles

pills
March 22 2019
The healthcare-focused advisory group boasts good levels of forward bookings thanks to several new business wins at the beginning of 2019
Bloomsbury Publishing
March 19 2019
Peel Hunt expects “superior returns" from the firm’s investment in digital capacity
clapperboard
March 04 2019
At the Completion Contract business there have been lower volumes and the average budget per film has reduced

© Proactive Investors 2019

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