Jaywing on target despite 'challenging' market conditions

Agency and consulting business Jaywing told investors on Thursday that full-year earnings looked set to be in line with expectations despite "challenging market conditions" in the UK.

Jaywing anticipates that its full-year EBITDA will be in-line with market expectations despite the adverse market conditions at home and the continued uncertainty surrounding Britain's planned withdrawal from the European Union.

Chairman Martin Boddy said: "This has been a year of solid progress for Jaywing. We have seen encouraging growth in Epiphany, our online performance marketing division, and also in our fast-growing operations in Australia."

Boddy said the group had managed its cost base "carefully" and exited its non-core, low margin contact centre business, HSM, which strengthened its balance sheet.

"We have enhanced core capabilities in data science and digital marketing. This, allied to our AI-powered technology and collaborative 'One Jaywing' operating model leaves us well placed as confidence returns to clients, and their longer-term marketing plans," concluded Boddy.

As of 1130 BST, Jaywing shares had dropped 4.62% to 15.50p.