London-headquartered marketing communications specialist Incepta Group is confident of delivering growth in its current financial year. Its global clientele includes Coca-Cola, AT&T and McDonald’s among a claimed list of 2,000.
In a trading statement issued Friday the group said that while trading profits for Q1 of its fiscal were in line with budget, “the current visibility of client spend both for ourselves and the media sector is shorter than a year ago”. Observed Incepta: “This makes it more difficult to project forward with the same certainty we experienced this time last year.”
The economic slowdown in the United States was affecting markets across the world but recent large US acquisitions – Citigate Sard Verbinnen and Citigate Broad Street – were doing well. As were Incepta’s UK marketing service units Finex, Dynamo and RED Consultancy. “All of these businesses have made significant contributions to our profitability in the first quarter,” said the statement.
However, the market was seemingly unimpressed by Incepta’s bullish posture. Its shares, which have fallen below the FTSE All Share Media Sector index by about 28% in the year to date, dipped yesterday by a further one per cent to 57p. On this basis, Incepta is valued at £250 million.
News source: CampaignLive (UK)