News blog

Mission Marketing Group

  • BY: Andrew Hore |
  • POSTED: 23/10/2013 |

Mission Marketing Group has expanded its healthcare expertise through the purchase of Solaris Healthcare Network for an undisclosed cash payment.

Richmond-based Solaris is a medical communications and clients include GlaxoSmithKline and Bayer. Solaris is cash generative and will make a modest profit this year. The business will be combined with the existing Bray Leino Healthcare operations and they will all trade under the Solaris name.

At 25.75p a share, up 0.5p, Mission Marketing is valued at £19.8m.

In the first half of 2013, operating income rose 13% to£25.4m, while underlying profit fell from £2.1m to £1.7m - before exceptional restructuring costs and intangible write-offs of £1.5m. There was a scaling back of business with Aviva. There was a £5m cash inflow from operations and net bank debt was reduced by £3.5m to £8.8m. A interim dividend of 0.25p a share was announced.

More add-on acquisitions are likely.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2013_49.pdf

© 2023 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds