Mr Stuart Mitchell, Chief Executive Officer of the Mitchell Communication Group said, “The result is exceptional. As I remarked at the Company’s recent AGM, the Group has over 32 years of history and has a proven track record of growth despite different market cycles. These achievements are a testimony to our strength, being number one in the majority of our pursuits, the quality of our relationships with our clients and our people and their service delivery. Our recent appointment to the media account of Fairfax Media is further evidence of this. During the period, gross billings in our traditional media business grew 5.2% compared to the previous period, whilst the market as a whole experienced a contraction of 3.8%1. We seize opportunities in all cycles.
Moreover, we are conservatively geared with no refinancing requirements in the current or next financial year. During the half, we also grew revenues in our sports ground marketing, public relations and brand experience businesses and our Australian online advertising businesses gross billings increased by 42% compared to the same period last year, again outstripping the market growth of 25.7%2. In achieving this result, we recognise the efforts of our staff, and the support of our clients, suppliers and shareholders with many of whom we enjoy long-standing and mutually beneficial relationships, relationships that give us confidence in our ability to deliver into the future.”
MCU Price at posting:
47.5¢ Sentiment: LT Buy Disclosure: Held
