Zibrant account loss dents Motivcom projection

The loss of a ‘significant’ retained client at Zibrant has dented first half-year trading expectations for its parent company, Motivcom.
 
Motivcom, however, says that the missed target is “just a timing issue”, and that its order intake remains “satisfactory” with a stronger second half predicted for 2014, “assuming no material change to the economic environment”.
 
The first half of the year is defined as the first six months to 30 June 2014.
 
A Motivcom trading update to the London Stock Exchange reads: “As the Group only recognises profit on the events and sales promotions business when the event has taken place or the promotion has started, this is expected to significantly impact the outturn of the first half of the year.
 
“The variation in phasing between the first and second half has been a regularly reported characteristic of the Group’s business and this industry. The Board views this matter mainly as a timing issue.”
 
The unnamed Zibrant client’s services will cease in November 2014. The statement concluded: “The Board continues to remain cautiously optimistic about the Group’s prospects, assuming no material change to the economic environment.”
 
Zibrant, one of Motivcom’s major subsidiaries, last week reported that it had gained mobile operator Three as a client.
 
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Paul Colston

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Paul Colston

Managing Editor, Conference News & Conference & Meetings World.

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