Porta Communications On Look Out For Deals After 2nd Half Improvement

LONDON (Alliance News) - Marketing and communications firm Porta Communications PLC on Wednesday ...

Alliance News 3 February, 2016 | 8:45AM
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LONDON (Alliance News) - Marketing and communications firm Porta Communications PLC on Wednesday said it performance improved significantly in the second half of 2015, leaving it on track to deliver higher earnings for the period, before costs related to the closure of two of its European offices.

Porta said its reported earnings before interest, taxation, depreciation and amortisation more than doubled in the second half to the end of December, while its headline earnings were up around 40%, despite it booking restructuring costs related to the closure of its Frankfurt and Brussels offices.

It said its Newgate Australia business has been trading well, though the weakness of the Australian dollar will hit its contribution to the group, while its Redleaf Communications unit also performed well in its first full year under Porta's ownership.

Porta said the new year looks robust, and it will be looking at potential acquisition opportunities if the buoyant conditions in its markets continue.

Porta shares were up 2.2% to 7.03 pence, having jumped initially 7.9% to 7.42p.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2016 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article
Security Name Price Change (%) Morningstar
Rating
Porta Communications PLC 1.25 GBX 0.00 -
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