AGM Statement

RNS Number : 4640V

Adventis Group PLC

29 May 2008

 



For release

07.00am

29 May 2008

Adventis Group Plc ('ATG.L')

('Adventis' or the 'Company')

AGM STATEMENT

At the Annual General Meeting of Adventis Group Plc ('Adventis' or 'the Company'), the AIM-listed marketing services, media buyer and advertising agency, being held later today, Non-Executive Chairman, Peter Mitchell will make the following statement:

'I commented in my statement in the Annual Report that 2007 was a good year for Adventis with strong growth continuing.  It was our fourth consecutive year of achieving higher levels of income and profit whilst still increasing our margin and cash reserves. We believe that there are good opportunities for further growth in our specialised sectors of healthcare, financial services media and property.  As well as organic growth we continue to seek acquisition candidates in these and in other sectors with similar characteristics of specialist skills, knowledge, qualifications and significant barriers to entry.

To date in 2008, we have launched Adventis Digital, Adventis Integrated and Medical Device Communications and we are already seeing the benefits from this organic growth.  Overall revenue and profit in the first four months of 2008 are higher than the same period last year though slightly below our expectations as a result of the poorer trading environment and the investments we have made in the new operations.

Our property agencies represent just over one-third of the Group's agency revenues and have this year experienced mixed fortunes, with residential being impacted the most. The Board has already taken action, including reducing the property division's cost base and the creative department is now operating a more flexible cost model.  We are already witnessing the benefits of our refocus earlier this year of residential activity and in 2008 we have won business from several Registered Social Landlords, including Genesis Homes, Home Group, Hyde Vale and Dominion Homes.

Our healthcare division, which is an important and growing part of our operations, is largely counter cyclical. Highlighting the growing strength of Adventis Health, it is very gratifying that in the year to date, it has pitched and won five new assignments. The most recent win with a major blue chip pharmaceutical company specialising in vaccines, is a significant gain for Adventis and reinforces our view that the healthcare market remains robust.  In financial services, our focus away from the mortgage providers and investment fund managers has helped us make a healthy start to 2008. New project wins have been secured from existing clients such as Foresters Friendly Society, Cardif Pinnacle, Just Retirement, Reita and Pure. Finally, our media companies are also up on expectations as advertising volumes have remained strong. 

2008 is proving to be a challenging year, but we will continue to integrate our businesses and protect our margins, and we believe that the Company remains well placed to take advantage of the opportunities that will be created.

Enquiries:

Adventis Group Plc
Charles Phillpot, CEO	Tel: [phone]
Peter Linnell, Finance Director	Tel: [phone]
Adventis Financial PR
Chris Steele	Tel: [phone]
Tarquin Edwards	Tel: [phone]
Arbuthnot Securities
Tom Griffiths	Tel: [phone]

 

END

 

 

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