Mission Marketing expects double digit growth in first half

21st Jul 2016 15:16

(ShareCast News) - Mission Marketing Group, a marketing communications and advertising company, on Thursday issued a positive trading update for the first half.The board expects double digit growth in both revenue and profit in the first half compared to the previous year for the same period ending 30 June.Capital inflows are proving strong with net debt falling by £1.5m to £9.4m at the end of the period after making cash consideration payments of £2.6m. Leverage ratios of net bank debt and total debt to earnings before interest, taxes, depreciation and amortisation (EBITDA) have both fallen and remain within the limits set by the board for these key performance indicators.The board expect results for the year ending 31 December 2016 to reflect the performance in the second half and look forward to further progress over the remainder of the year.Interim results are expected to be announced on 22 September 2016.Shares rose 10.74% to 37.65p at 1346 BST on Thursday.