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NEWS25 September 2018

Ebiquity revenue up 1.9% as it awaits CMA decision on intel sale

Financials News UK

UK – Marketing and media analytics consultancy, Ebiquity, has reported revenue growth of 1.9% taking it to £45.5m, for the first half of the year.

Its interim results for the six months ended 30 June 2018 showed strong performance for its media, analytics and tech practices – revenues up 4.9% and 15.9% respectively – but its intel (market intelligence) has fallen 12.8%.

Earlier this year, Ebiquity agreed to sell its advertising intelligence business to Nielsen for £26m.  The sale is awaiting the approval of the UK Competition and Markets Authority (CMA).

The company said that, in line with accounting standards, the intel practice has not been treated as held for sale at 30 June 2018 as CMA approval has not been received. The CMA review is expected by December 2018, and Ebiquity said it is prepared for all outcomes.

It also announced the resignation of its chief financial officer, Andrew Noble. He will stay on until the end of the year to help with the transition and recruitment for his replacement has begun.

Michael Karg (pictured), CEO, said: “We continue to execute our growth acceleration plan and have made significant progress over the past six months towards achieving faster revenue growth within our media, analytics and tech practices, with encouraging momentum in the US.  The performance of intel has masked a strong half year in these practices.

“While the proposed sale of intel to Nielsen has impacted performance, we are confident in the longer-term market opportunities as clients seek independent advice on how best to allocate and optimise key marketing investments.”

@RESEARCH LIVE

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