Ebiquity - Margin boost from digital media solutions
Ebiquity’s trading update shows revenues are in line with our forecasts, but with a much better operating profit performance at £4.7m versus £4.1m. This reflects strong progress made in its newer (higher margin) digital media solutions and prudent cost management, accelerating the timing of modelled margin recovery. It has also translated into faster improvement in the balance sheet, with year-end net debt of £4.8m, against our forecast £8.7m. The group has made a small acquisition in Canada, extending North American capability. The shares have performed very strongly over the last year, yet the rating remains attractive.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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