Mission Marketing Group, owner of RLA Group and Bray Leino, expects revenues to increase by about 29% for the full-year but profit to decline.
In a pre-close update ahead of its preliminary results announcement on April 16, the marketing services group adds like for like revenue for the year ended December 31 will be slightly ahead of last year.
Pre-tax profit will be about £7.4m, the group says, down from the £9m registered last year with the group citing restructuring costs and the “deteriorating trading environment” for the dip.
Revenue expectations for the full-year reflect the increasing pressure marketing groups are coming under in the wake of the declining advertising market. The group’s revenue increased 50% to £22.5 million in the first-half of 2008 while pre-tax profit rose 62% to £4.9m in the six months to June 30.
The group, chaired by MP Francis Maude (pictured), says trading so far this year has been “robust” and that it is “well positioned” for this year because of its management of costs and focus on cash generation.
Recent account wins for group agencies include Office of National Statistics and the Royal Mint.