SEC Newgate Revenue Up 13% In First Half Of 2024
(MENAFN- PRovoke)
MILAN - SEC Newgate has reported“strong momentum and significantly improved results” for the first half of 2024, during which revenue rose 13% to $103.6 million from the previous year.
This growth was reflected across all key financial performance indicators, with gross profit, EBITDA, and PBT rising by 12%, 25%, and 39% respectively.
SEC Newgate's attributed its growth to recent strategic initiatives, including the establishment of regional organizations and the appointment of a global chief growth officer. The group said the moves signify the company's commitment to becoming a global leader in integrated corporate communications and public affairs.
The half year 2024 results include revenue generated by the group's recent acquisitions including the Netherlands-based public affairs firm Wepublic and the Athens-based and Southeast Europe focused group V+O , which was acquired earlier this January and operates in six markets across the Balkans.
In reporting its results, SEC Newgate said the growth aligns with the group's ongoing strategic development plan after selling a majority of the firm to investment firm Investcorp for approximately $100m in June 2023.
Said group CEO Fiorenzo Tagliabue:
“Our performance in H1 2024 has been very solid and stronger than ever. Our results are a combination of a strong focus on organic growth across all our markets, including a strong performance in key markets such as US, UK, Greece, Italy, France and Middle East.
“We have also increased the volume of cross markets and regional sales that from January to June 2024 were 181% ahead of the same period in 2023.
“I have to give credit for this last incredible result to the Head of Regions that were appointed last November from our senior managers across the Group to pursue this expansive strategy.
“We remain focused on increasing growth and sales and later this year we are expected to see the fruits of the significant investments and initiatives made in Q1 and Q2 to further enhance global sales structures and shape our global offering.”
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