News & Press
14th January 2008
Hasgrove plc (AIM: HGV, ‘Hasgrove’), the pan European marketing and communications services group, is providing a trading update for the year to 31 December 2007. The Group had a strong second half and trading for the year is in line with market expectations.
During the second half the Group completed three acquisitions of digital communications businesses, Amaze, Odyssey Interactive and Pavilion Communications. When combined with the Group’s existing digital capabilities, this business now has over 150 employees in this high growth area delivering a total annualised turnover expected to be in excess of £15 million. According to the NMA Interactive 2007 tables, the enlarged digital element of the Hasgrove group would have been one of the top 10 UK interactive businesses. The newly acquired digital companies have integrated well into the Group.
In 2008 the Board will develop a comprehensive digital offering of strategic, creative, media and technology skills. Odyssey will launch its products into the Benelux market with the assistance of Interel. Pavilion is working with a number of other group companies including work on a major client’s financial reports with The Chase. Amaze has successfully novated its contracts with its major clients and has re-signed a partner agreement with SDL Tridion, an international leader in web content management for external sites.
Interel delivered strong organic growth which, when combined with its acquisitions, has resulted in substantial progress towards its aim of being a leading European corporate affairs consultancy. The Chase and Landmarks, the Group’s two design consultancies, delivered a number of the significant new business wins and have completed a large joint project for a European client. After a slow start to the year, Connectpoint delivered a strong second half performance including securing new business.
The Group generated significant new business with blue-chip clients. Recent new clients across the Group include Astra Zeneca, Danone, Google, ExxonMobil Chemicals, Inmarsat, HMV, Northern Rail, Places for People, Electrabel Suez and Rio Tinto.
These new business wins combined with the strong performance of the enlarged Group give the Board considerable confidence in the Group’s ability to achieve significant growth in the current financial year.
The Group expects to publish its preliminary results for the year to 31 December 2007 in early April.
Rod Hyde, Group Chief Executive: 0161 817 4200
Paul Sanders, Group Finance Director
KBC Peel Hunt
Capel Irwin/Richard Newman: 020 7418 8900
Adrian Duffield/Rozi Morris: 020 7457 2020