The Marketing Group - Q3 update gives reassurance and upgrade
The Marketing Group’s Q3 results show that it is now properly focused on growing the business, with group agencies worldwide taking on larger pieces of work in collaboration. EBITDA margin to net revenue has grown in each of the last three quarters and we have moved our full year, FY18 and FY19 earnings’ forecasts ahead by c 10%. Net cash at the end of the quarter had increased to €1.7m from €0.9m at end June. This is facilitating investment in new initiatives, including the group’s new blockchain-enabled global media agency, Truth. The rating should start to improve as confidence builds that management can deliver on its strategy.Marketing Group is a global marketing and advertising agglomeration. It comprises a portfolio of independently managed subsidiary brands, each with specialist expertise and services, which together offer a broad suite of marketing and advertising services to global blue-chip clients. Co.'s service offering includes social media, content creation, events, PR, e-learning, app development, game development, lead generation, sponsorship, TV production, branding, digital marketing, web and e-commerce and many other services.
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