Be Heard Group PLC (LON:BHRD), the digital marketing services group, have today announced its full year results for the year ended 31 December 2017.
Highlights
· Strong revenue growth
o 25% increase in organic net revenue
· Profit in line with guidance announced in January
· Connected offering extended by two acquisitions
o The Corner (integrated creative agency) and Freemavens (data and analytics)
· Increasing demand for integrated, end-to-end marketing services
o 13 clients using two or more of our partner companies; four clients use three or more
o 30% of revenue coming from clients using two or more Be Heard partners
· Good new business momentum
o 46 client wins, including first using all Be Heard partners
· Management structure strengthened to drive the next phase of growth
Headline financial results
|
|
2017 |
2016 |
Change |
|
|
£m |
£m |
|
|
Billings |
34.7 |
28.9 |
+20% |
|
Net revenue |
19.6 |
9.5 |
+106% |
|
Trading EBITDA 1 |
3.6 |
2.4 |
+50% |
|
Operating profit (adjusted) 2 |
1.6 |
0.8 |
+98% |
|
Profit / (loss) per share (diluted) |
(0.00) |
(0.01) |
|
Peter Scott, Chief Executive, said:
“2017 was only our second year as Be Heard. Phase one of our strategy is well advanced – building an integrated, end-to-end platform to offer connected, digital marketing services. We now have 330 digital experts covering data and analytics, integrated creative, media, content and UX, design and build. We continue to see an immense opportunity ahead for Be Heard, as the traditional holding groups scramble to adapt to changing client needs.
“The Group’s focus is now shifting to the next phase of our strategy – driving organic revenue growth by maximising collaboration across our partner agencies. Against a backdrop of weakness in the sector, we have seen strong new business momentum in 2018 to date, at both Group and partner company levels, after some existing clients were slow out of the blocks in the first quarter. We are optimistic of further progress in the year ahead as we help clients navigate the digital customer journey.“
