SEC Newgate S.p.A. Trading Update (8673L)
05 Maggio 2020 - 11:21AM
UK Regulatory
TIDMSECG
RNS Number : 8673L
SEC Newgate S.p.A.
05 May 2020
The information contained within this announcement is deemed by
the Company to constitute inside information as stipulated under
the Market Abuse Regulations (EU) No. 596/2014 ("MAR"). With the
publication of this announcement via a Regulatory Information
Service, this inside information is now considered to be in the
public domain.
5 May 2020
SEC Newgate S.p.A.
("SEC Newgate", the "Group" or the "Company")
Trading Update
The Board of SEC Newgate (AIM:SECG), the international
communications, advocacy and research group, today provides the
following trading update.
The Group had an excellent start to the current year with all
businesses performing in line with or ahead of budget and
management expectations.
The Group's two largest subsidiaries, Newgate Communications in
the UK and Newgate Australia, both enjoyed record levels of profit
before tax for the three months to 31 March 2020. A strong
performance was also achieved by Cambre (Bruxellles), CLAI (Paris),
SEC Newgate Colombia (Bogotà) and SEC and Partners (Rome).
Since the outbreak of the global pandemic, Covid-19, the Group's
agencies have all implemented business continuity plans, working
remotely under varying levels of lockdowns in their markets around
the world. The Group has taken all necessary steps to reduce any
discretionary spend and ensure strong cashflow generation whilst
ensuring it continues to develop and support its 600 people around
the world, service its clients, and build market share. The Group
continues to operate profitably with teams working collaboratively
and sharing best practice initiatives and experiences. All
businesses have quickly adapted to the changed working environment
and continue to provide first class service to clients through
online and digital engagement capabilities.
In November 2019, the Group unveiled its three-year Strategic
Plan. The steps taken since have put the Group on a stronger and
more sustainable financial foundation. The Group has committed
banking facilities available with maintainable covenants and
continues to enjoy excellent relationships with its lenders to
support the Group through this difficult period. It also benefits
from the recent Euro 2.5m Convertible Bond issue and a new Euro 3m
four-year banking facility with Deutsche Bank S.P.A announced in
December 2019.
On 29 April 2020, the Group was delighted to be confirmed at
26(th) position in the PRovoke (formerly Holmes Report) top 250
global agencies, rising from 53(rd) in 2019. This is another
important milestone for the Group as it drives to build market
share and brand profile globally.
Commenting, Fiorenzo Tagliabue, Group Chief Executive, said:
"We are very pleased with the way our Group is performing. The
recent industry rankings are a validation of the significant
progress we are making. I am extremely proud of our team which is
powered by its entrepreneurial spirit, collaborative approach, and
determination to be the most desired agency in the world. We look
forward to updating the market when we announce our results at the
beginning of June 2020."
- ends -
Further information:
For further information please contact:
SEC Newgate S.p.A.
Fiorenzo Tagliabue (Group CEO) Tel: +39 335 6008858
tagliabue@secrp.com
Emma Kane (Deputy Group CEO, Tel: +44 (0) 7876 338339
CEO Newgate Communications UK) emma.kane@newgatecomms.com
Federico Vecchio (Group CFO) Tel: +44 (0) 20 7680 6500
federico.vecchio@secnewgate.co
Arden Partners (Nominated Adviser
and Broker)
Richard Johnson / Benjamin Cryer Tel: +44 207 614 5900
Notes to Editors about SEC Newgate
-- Further information is available at www.secnewgate.com
-- On 3 September 2019, SEC S.p.A. and Porta Communications Plc
merged to create SEC Newgate S.p.A.
-- The Group's principal brands are: ACH SEC Global (Spain);
Cambre Associates (Belgium); Cambre Maroc (Morocco); Clai (France);
Kohl PR (Germany); Martis Consulting (Poland); SEC Latam
(Colombia); Newgate Communications (Abu Dhabi, Australia, Greater
China, Singapore, UK); Newington (UK); Publicasity (UK); SEC
Newgate S.p.A. (Italy); and 2112 (UK).
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
END
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