News & Press
Profits up 44% and maiden dividend proposed as Group integrates four acquisitions
15th April 2008
Hasgrove plc (AIM: HGV, ‘Hasgrove’), the pan European marketing and communications services Group, announces its preliminary audited results for the year ended 31 December 2007.
- Turnover increased by 42% to £21.7m (2006: £15.3m*)
- Gross profits increase to £15.1m (2006: £10.3m*) – like for like up 6.7%
- Strong performance by Public Affairs and Corporate Communications and Digital divisions – operating profits up 63% and 22% respectively
- Headline PBT jumps by 44% to £2.6m (2006: £1.8m*)
- Headline basic EPS up by 6.5% to 9.8p (2006: 9.2p*)
- The Board is proposing a maiden dividend of 0.5p per share
- Net debt at 31 December 2007 £4.9m (2006: net cash £3.5m)
- Four substantial acquisitions, Cabinet Stewart, Odyssey, Pavilion and Amaze completed
- Acquisition of Politics International, a leading London based Public Affairs consultancy in February 2008
* Comparative figures for 2006 represent results from the ten months ended 31 December 2006.
Rod Hyde, Chief Executive, said:
“During 2007 we continued to develop rapidly with a particular focus on our public affairs and digital capabilities.
“The Public Affairs and Corporate Communications division made significant progress with profits increasing by 63%. We also launched an Interel branded European public affairs network with offices and partner consultancies across continental Europe to complement our operations in London and Washington.
“The Group has been very successful in growing its digital operations including acquiring two significant digital businesses. The Digital and Communication Services division employs around 170 people and on a combined basis is now one of the top 10 UK interactive agencies.
“The current year’s trading has started well with a number of key project wins. We remain confident of another successful year, particularly given the high visibility of earnings.”
Rod Hyde, Group Chief Executive 0161 817 4200
Paul Sanders, Group Finance Director
Adrian Duffield/Rozi Morris 020 7457 2020
KBC Peel Hunt
Capel Irwin/ Richard Newman 020 7418 8900