Mission Marketing Group delivers profit growth

by Daniel Farey-Jones Brand Republic 26-Sep-07, 09:00

LONDON - The Mission Marketing Group has revealed it has made £3.03m in pre-tax profit on turnover of £39.69m, in the first six months of 2007.

The group, which has grown substantially through acquisitions after floating on the AIM market in April 2007, is following a strategy of buying marketing agencies outside London.

It owns six agencies, including Bray Leino, April-Six and this month's new arrival Scottish agency Story.

It is difficult to compare the group's performance with last year, because of its transformation. However, the group provided pro forma figures showing how it would have performed in the first six months of 2006 had it existed in its current form then.

According to these figures, pre-tax profits were £3.19m in the first six months of 2006 and have grown by 19% year on year to £3.81m. Turnover grew 9% to £45.93m.

Iain Ferguson, chief executive of the group, said: "The second half has started well with trading in line with our expectations.

"The acquired businesses have already been successfully integrated and the benefits are coming through as planned. This, coupled with the continued growth in digital and new business wins, makes us confident of delivering a good financial performance in 2007."

The group's new business this year includes Bray Leino winning the Bradford & Bingley and Ben & Jerry's accounts and Big Communications winning the Princes Foods account.