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Media Square

  • BY: Andrew Hore |
  • POSTED: 04/11/2008 |

Media Square returned to profit in the six months to August 2008.

Disposals have brought in cash but net debt is still relatively high at £17.1m. The company should generate cash from operations in the second half.

Media Square swung from a loss of £13.2m, which was mainly down to exceptional write-offs, to a profit of £917,000. Turnover slipped from £68.9m to £65.3m.

The marketing communications business has slimmed down to five main operating areas: advertising, design, marketing, PR and research.

The UK and the US are still depressed but the Middle East and China are still growing.

At 23.5p a share, Media Square is valued at £7.58m.

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