The AIM company is in the process of offloading its floundering Advertising Intelligence division to Nielsen Media Research, a deal which regulators formally approved earlier today.
Unfortunately, it is still stuck with another underachieving business in the shape of its US Digital Analytics practice which has endured various “challenges” over the past year, while delays in closing new contracts in Germany haven’t helped matters.
Performance has been better in the UK & Ireland and France, with the company signing deals with global giants Volkswagen and Nestle. But Ebiquity is investing heavily into these practices, denting profitability.
Despite the hit to the bottom line, the group expects revenue to grow 8% year-on-year, and its net debt position should be “materially improved” once the sale of the Advertising Intelligence division completes.
Shares were down 24.2% to 50p.