Ebiquity trades in line with FY expectations after H2 recovery

Marketing and media consultancy Ebiquity said on Monday that it had traded in line with expectations in 2020, driven by a bump in revenues throughout the second half.

Ebiquity stated its higher second-half revenues reflected both a recovery in demand from existing clients as they returned to more normal activity levels and success in winning new business.

As expected, the AIM-listed group added that it had returned to profitability in the second half, although it also stated was likely to report "a small adjusted operating loss for the full-year".

Net debt of £7.7m at the end of 2020 was in line with expectations.

Chief executive Nick Waters said: "We are pleased to have delivered on expectations in the second half of 2020, reflecting new business wins as well as a recovery of activity by existing clients, who include the world's leading advertisers.

"We have made an encouraging start to the new financial year and together with our strong balance sheet, we are well placed to reinforce our position as the leading, independent global media consultancy."

As of 0910 GMT, Ebiquity shares were up 8.09% at 20.70p.