Porta Communications PLC AGM Statement (7561P)
May 31 2018 - 2:00AM
UK Regulatory
TIDMPTCM
RNS Number : 7561P
Porta Communications PLC
31 May 2018
31 May 2018
Porta Communications Plc
("Porta" or the "Company" or the "Group")
AGM Statement
Porta Communications Plc (AIM: PTCM) will hold its Annual
General Meeting today at Sky Light City Tower, 50 Basinghall
Street, London commencing at 2:00pm, where the Group's Chairman,
John Foley, will make the following statement:
"The Porta Group is now led by a management team of experienced
and proven leaders who are actively involved with their senior
colleagues across the Group in developing an integrated operating
strategy to deliver long term, profitable growth.
In the UK, the full combination of Newgate and Redleaf is now
underway and will operate under the Newgate brand to create a
cohesive business structured to leverage the talent of its team and
the strength of its client base.
As a trusted adviser helping both leading and challenger brands,
the combination of the two businesses will provide critical mass
and a seamless strategic communications consultancy whatever
opportunity a client wishes to seize or challenge it needs to
address.
The business will focus on 10 key sectors where specialist
technical and regulatory knowledge and a profound understanding of
market drivers are needed; these include financial services and
property where we believe we have one of the most comprehensive
offerings in the market.
The Group's regional, national and international office network,
along with its integrated offering across financial and corporate
communications, public affairs, market research, digital and
engagement are important differentiators and are increasingly
generating cross-agency and cross-border work for the Group.
The Newgate Network in Asia Pacific, along with Redleaf and 2112
Communications in the UK, continue to be the most profitable
businesses in the Group. However, as we announced in April, the
first half of 2018 will be a period of further consolidation of the
cost base and operating structures of certain UK businesses and
this will adversely affect revenue and profits during that
period.
The Board is confident that the Group is now better positioned,
both as a result of the actions taken in 2017 that began to address
the Group's weakened balance sheet which we will continue to review
and with a new senior management structure at Board level to take
the Group forward."
--ends--
The information contained within this announcement is deemed to
constitute inside information as stipulated under the Market Abuse
Regulations (EU) No. 596/2014. Upon the publication of this
announcement, this inside information is now considered to be in
the public domain.
Enquiries to:
Porta Communications Plc
Brian Tyson, Joint CEO
Emma Kane, Joint CEO
Rhydian Bankes, CFO
Gene Golembiewski, Executive Director
+44 (0) 20 7680 6500
Newgate Communications (Media Enquiries)
Bob Huxford
Adam Lloyd
James Ash
+44 (0) 20 7680 6550
porta@newgatecomms.com
Grant Thornton UK LLP (Nominated Adviser)
Samantha Harrison
+44 (0) 207 383 5100
N+1 Singer (Broker)
Mark Taylor
Lauren Kettle
+44 (0) 20 7496 3000
Notes for Editors
-- Porta is a fully integrated communications and marketing
group with specialisms including financial, corporate and consumer
public relations, public affairs and research and multi-capability
marketing, brand and creative communications.
-- The group has offices in Abu Dhabi, Beijing, Brisbane,
Bristol, Canberra, Cardiff, Edinburgh, Hong Kong, London,
Manchester, Melbourne, Perth, Shanghai, Singapore and Sydney.
-- The brands and companies it owns are Newgate Communications,
Redleaf Communications, Publicasity and 2112 Communications.
-- Further information on Porta Communications is available at www.portacomms.com
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
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contact rns@lseg.com or visit www.rns.com.
END
AGMSDDFWSFASEEI
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