By The U.K.-based marketing company, Mission Group, anticipates that its full-year profit will be at the lower end of management expectations. This projection comes despite a rise in first-half revenue.
For the six months ending June 30, Mission Group expects revenue to reach £42.0 million, a significant increase compared to £37.5 million from the same period in 2022. However, headline operating profit is expected to decrease from £2.2 million to £1.9 million, while headline pretax profit is projected to fall from £1.8 million to £1.0 million due to higher interest rates.
Despite these hurdles, the company remains optimistic about revenue growth across all sectors for the full year. However, it expects its profit to remain at the lower end of management expectations. The full-year pretax profit estimate for 2022 is above £7.8 million.
Chief Executive James Clifton expressed caution regarding the wider economic backdrop in the second half of the year. Nonetheless, the company has gained notable client wins and sees an encouraging pipeline of new business opportunities, which bolster the board’s long-term outlook for the group.
As of 0936 GMT, shares were down 3.5 pence or 7.95% at 40.5 pence.
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