SEC expecting decent rise in earnings in 2018 results
Italy-focussed public relations and integrated communications agency SEC updated the market on its full year of trading on Thursday, saying it expected to report revenues of €24m for the 2018 financial year - an increase of 17.3%.
The AIM-traded firm said it was anticipating a 59% increase in EBITDA to €2.6m, and a 103% improvement in net profits to €1.5m.
Its net cash and financial investments as at 31 December were expected to be a negative figure of €1.2m, which the board put down to the different classification attributed to its holding in the securities of Porta Communications, which changed from 'financial assets available for sale' to 'participations' as a result of the merger talks currently taking place between Porta and SEC.
“The improvements secured in 2018 are a result of management time being focused on increasing the delivery of successful client outcomes, boosting existing client growth and generating new business opportunities,” the SEC board said in its statement.
SEC said it expected to announce audited results for the year ended 31 December during the week beginning 20 May.