Mission Marketing Group rises on positive first-half update

22nd Jul 2015 12:36

(ShareCast News) - The Mission Marketing Group said trading during first six months of the current year was above levels noted over the corresponding period last year.Revenues and profits would show double growth driven by a strong acquisition pipeline, the company added.Furthermore, net debt fell 11.7% to £8.3m while its leverage ratios remained within the limits set by the group.The company made five acquisitions and merged two of its existing agencies. As a result, full-year figures are expected to meet market expectations.Looking ahead, Mission Marketing Group will invest in new businesses and continue to explore opportunities to extend its range and reach.Also on Wednesday, the group announced its non-executive director Stephen Boyd will step down from the board at the end of the year.Chairman David Morgan said: "Stephen joined us in very different times and was instrumental in steering the company through its refinancing in 2010."We would like to take this opportunity to thank him for his valuable contribution to the board over the years and we wish him well for the future."Shares in the company rose 4.1% to 41.9p on Wednesday at 1117 BST.