The Marketing Group (ST:TMG NASDAQ OMX:TMG), the acquisitive marketing services firm saw its third-quarter turnover reach €6.188bn and generated underlying earning (EBITDA) of €614,365.
For the nine months to September 30, the Stockholm-based group’s turnover was €8.596bn, and underlying earnings were €1.31mln.
On a pro forma basis, however, with all its recently acquired companies contributing for the full period, turnover was €28.191bln and underlying earnings were €4.381mln.
The Marketing Group acquired 12 new companies in the third quarter, at the end of the period it had a total of 18 wholly owned subsidiaries.
Executive chairman Jeremy Harbour said:” I am pleased to report that during the third quarter we have continued to make excellent progress delivering our strategy aimed at building a leading global marketing and advertising company by adding a further twelve new businesses to the group.
“Each acquisition was accretive to earnings per share (EPS) and was strategically selected to enhance our service offering and strengthen our position in key international markets.”
He added: “Through our acquisition strategy we are rapidly building a company that can compete with the major global networks in terms of service offering and geographical reach.
“This journey has only just begun but I am confident that the Group will continue to grow from strength to strength and create value for all our shareholders.”