Business
Trading Statement and Notice of Interim Results
Trading Statement and Notice of Interim Results.
About this update from Mission Group Public Limited Company
[{"type":"text","content":"\n \n \n RNS Number : 0098T\n Mission Group PLC (The)\n 15 July 2020\n \n \n \n \n 15 July 2020\n \n \n THE MISSION GROUP plc\n \n \n (\"MISSION\", \"THE GROUP\")\n \n \n \n \n \n TRADING UPDATE AND NOTICE OF INTERIM RESULTS\n \n \n \n \n \n \n \n \n \n MISSION\n \n \n (AIM: TMG), the alternative group for ambitious brands, today provides the following trading update for the six months ended 30 June 2020 (\"the period\"). \n \n \n \n \n \n \n Key Highlights\n \n \n \n \n \n · \n \n Following a positive start to 2020 the Group entered the COVID-19 crisis in a position of strength. \n \n \n \n · \n \n Robust trading performance in challenging market conditions, ahead of our initial projections at the outset of the pandemic. \n \n \n \n · \n \n Proactive and prudent measures taken to conserve cash with net bank debt significantly reduced during the period.\n \n \n \n · \n \n Strong Client retention throughout period with teams successfully focused on delivering new, innovative solutions for Clients.\n \n \n \n · \n \n Continued to win new Clients and assignments across the Group, in recent weeks securing significant contract with INEOS for delivery in the second half of the year.\n \n \n \n · \n \n Diversity of Client portfolio has ensured Group has been at forefront of activity in more robust sectors with strong performances in healthcare and technology.\n \n \n \n \n \n \n Trading\n \n \n \n \n \n As anticipated, whilst the pandemic has resulted in a material impact on Client demand, the Group has adapted well, a testament to our innovative and creative culture, ensuring MISSION is well positioned to take advantage of the opportunities that are arising across our global markets. \n \n \n \n \n \n As highlighted in our previous updates on 27 March and 21 April, the Group has taken proactive and decisive action throughout the crisis to protect the health and well-being of our people, ensure business continuity for our Clients and protect the financial strength of the business. As a result we have seen an improved performance against the Group's initial projections at the outset of the pandemic.\n \n \n \n \n \n We expect to report revenues for the period of £29m (2019: £39m) and whilst the Group anticipates an interim loss before tax of c£2.2m (2020: profit of £3.4m)...