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LONDON (Alliance News) - Marketing services firm Ebiquity PLC Wednesday said it plans to begin paying a dividend at the end of this financial year, as it posted a decline in pretax profit for its first half.
For the half year to end-October, the company posted a pretax profit of GBP577,000, down from GBP1.7 million a year before, as a rise in revenue to GBP35.0 million from GBP32.7 million was offset by higher exceptional costs.
Ebiquity posted exceptional costs of GBP3.0 million for the half year, compared to GBP1.9 million a year before, arising from acquisition and integration costs, GBP338,000 in refinancing costs, a GBP642,000 share option charge, and higher amortisation of acquired intangibles.
The strength of sterling hampered results, and on a constant currency basis the company's revenue was up 12% to GBP36.6 million.
The company said that continuing demand for data analytics and performance measurement drove growth in its Media Value Measurement and Marketing Performance Optimization businesses. Its Marketing Intelligence business is "beginning to show signs of recovery in some markets".
Ebiquity said its overall performance in the US has been weaker, and it does not expect to see improvement in Market Intelligence until next financial year, as its new management team takes steps to re-establish its market position.
"The introduction of Ebiquity's maiden dividend following the full-year results demonstrates our confidence in the group's ability to take advantage of the significant market demand for marketing analytics services," said Chief Executive Officer Michael Greenlees in a statement.
Shares in Ebiquity are trading up 1.9% at 132.50 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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