Porta Communications Plc Preliminary results
Porta Communications Plc, the AIM quoted international marketing and communications business announces preliminary results for the year ended 31 December 2011.
Highlights
- Acquisition of Threadneedle Communications, small and mid-cap PR specialists, rebranded Newgate Threadneedle by way of reverse takeover
– In March 2012, Newgate Threadneedle won UK Stock Market award for Best Financial PR Advisor
– In May 2012, Newgate Threadneedle ranked no.1 by number of AIM companies by independent Morningstar industry rankings - Established Newgate Communications following key hires – already won a number of FTSE 100 and other large cap clients
- Further recruitment of leading agency practitioners to enhance the Group’s offering
- Enhanced board composition with appointment of non-executive director Raymond McKeeve, corporate finance partner and global head of Berwin Leighton Paisner’s private equity practice
- Complementary acquisition targets identified
David Wright, Chairman and Chief Executive Officer of the Company, commented:
“We continue to focus on creating true shareholder value by building a first class international marketing and communications group in line with our original business plan. The building of the Group continues and benefits of this are now coming through strongly.
“Newgate Communications continues to recruit quality executives and major new clients are being won on a regular basis, adding value to our public relations agency.
“Newgate Threadneedle is trading ahead of budget and has recently won a number of new clients, while the media bartering division is poised to make a positive contribution to revenues. In addition, the Group has a very attractive portfolio of potential acquisitions covering a number of the areas, such as advertising, media buying and public relations, that it is our stated intention to enter. The outlook for the remainder of this year looks positive while the prospects for strong profits in 2013 look very exciting.”