Ebiquity - CMA clearance; trading news
Ebiquity has now received full CMA clearance for the disposal of Ad Intel, which will be transformative for the balance sheet (a net inflow of £20m). As might be expected, the process has been disruptive and absorbed management time. The trading update indicates higher investment levels within the rest of the group, which will supress operating profits in FY18e. Some good new business wins lay the ground for better performance in FY19e, but we have withdrawn our forecasts for now until there is greater clarity. Confidence may take a while to rebuild, but the weakness in the share price may provide an opportunity in a group fundamentally well placed to benefit from changes in the global advertising market.Ebiquity is a holding company, engaged in providing independent marketing analytics services to advertisers, spanning over 90 countries. Co. operates through three segments: Media Value Measurement, Market Intelligence and Marketing Performance Optimization. Co.'s Media Value Measurement segment includes Co.'s media benchmarking, financial compliance and associated services. Co.'s Market Intelligence segment includes Co.'s advertising monitoring, reputation management and research/insight services. Co.'s Marketing Performance Optimization segment consists of Co.'s marketing effectiveness and multi-channel analytics services.
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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