Jaywing (JWNG)

Sector:

Media

Index:

FTSE AIM All-Share

 9.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 12.50
  • 52 Week Low: 8.35
  • Currency: UK Pounds
  • Shares Issued: 93.33m
  • Volume: 17,354
  • Market Cap: £8.87m

Jaywing tumbles as losses widen amid 'difficult' trading conditions

By Iain Gilbert

Date: Tuesday 21 Nov 2017

LONDON (ShareCast) - (ShareCast News) - Digital marketing firm Jaywing saw a small increase in its revenue over the first half of the trading year, but higher expenses resulted in wider losses that sent shares tumbling on Tuesday morning.
Jaywing's gross profit increased from £17.1m to £17.8m for the six months leading to 30 September amid difficult trading conditions, as the downturn in consumer-led businesses across the UK since the snap election in June led several clients to cut back on marketing costs.

Also as a result of the lower marketing spend by clients, the group's EBITDA margin shrank from 12.5% to 8.25%, dragging EBITDA down to £1.45m from the £2.13m reported a year earlier.

Yet operating expenses grew from £16.44m to £17.1m, adding to the pressure on operations and sending pre-tax losses down to £309,000 from the £204,000 recorded a year before.

Net debt rose from £3.39m to £8m due to planned earn-out payments and a negative movement in working capital versus the strong debtors' position at the end of Jaywing's previous trading year.

Looking forward, chief executive Rob Shaw, said "We continue to actively pursue our strategy to scale the business by looking at complementary acquisitions in other territories and the UK. Adding new capabilities to our successful Australian business is a priority as is adding new services to our online media and data science offerings."

Jaywing announced a basic loss per share of 0.44p, a slight improvement on the 0.45p posted a year earlier.

Martin Boddy, chairman of Jaywing, said, "With limited exposure to growth in overseas markets to offset this, our UK H1 financial performance has been adversely impacted and we expect profits to be substantially below market expectations for the full financial year."

Boddy also said that despite the less-than-desirable results, the group remained "encouraged" with the strong performance of its media and analysis segment during the half, thanks to a strong demand for its data science consultancy services.

"We have experienced strong growth in our Australian operation and have secured some excellent new business wins across the UK business, including a rapidly growing company in the UK financial services sector," he added.

As of 1045 GMT, shares had fallen 24.41% to 24.00p.

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Jaywing Market Data

Currency UK Pounds
Share Price 9.50p
Change Today 0.000p
% Change 0.00 %
52 Week High 12.50
52 Week Low 8.35
Volume 17,354
Shares Issued 93.33m
Market Cap £8.87m

Jaywing Star Ratings

Compare performance with the sector and the market.
more star ratings
Key: vs Market vs Sector
Value Not Available
Price Trend
32.59% above the market average32.59% above the market average32.59% above the market average32.59% above the market average32.59% above the market average
33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average33.33% above the sector average
Income Not Available
Growth
57.73% below the market average57.73% below the market average57.73% below the market average57.73% below the market average57.73% below the market average
66.04% below the sector average66.04% below the sector average66.04% below the sector average66.04% below the sector average66.04% below the sector average

Jaywing Dividends

No dividends found

Trades for 16-Aug-2022

Time Volume / Share Price
14:48 50 @ 9.78p
09:14 17,304 @ 9.00p

Jaywing Key Personnel

CEO Andrew Robert Fryatt

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