Challenger agency The Marketing Group PLC (NASDAQ OMX:TMG) has completed its restructuring and is looking to move ahead again both organically and through acquisitions.
“The current financial year will be focussed on growth: complementary acquisitions, winning new clients and growing existing accounts through collaboration," said chief executive Adam Graham.
A recent profit warning from WPP PLC underlined that the large ad groups had become too large and bureaucratic, he said, adding the group has received a strong response to its new blockchain-based agency Truth, which is now being rolled out across the group.
“We will also re-brand the company to reflect its new positioning and unify the group offering. We have a variety of funding choices available to us now, from multiple sources.”
Net revenue in 2017 rose to €14.8mln from €5.7mln while underlying profits [operating EBITDA] rose to €2.34mln from €1.73mln including acquisitions.
TMG took a whole raft of impairments during the year, which meant a statutory loss of €45.5mln and a loss from the ongoing operations of €10.8mln.