Ascential expects to meet expectations as marketing segment boosts performance
Source - SMW
Ascential said it expected its marketing segment to return to double digit percentage growth as its efforts to ramp up activity in its medialink business bolstered growth.
The marketing segment was expected to deliver rganic revenue growth of 12% in first half of the year, with Cannes Lions and MediaLink both expected to produce double digit first half increases, the company said.
'The refocus of MediaLink's business undertaken in 2018 was a key driver of its strong growth in the half,' the company said.
Its product design segment was expected to deliver organic revenue growth of 9% in the half, with ongoing 'strong growth in subscriptions enhanced by an excellent performance from its specialist Mindset advisory product and a successful launch of the new WGSN Beauty product,' it added.
Its sales segment, meanwhile, was expected to deliver organic revenue growth of 3% in the first half, weighed down by a decline in the second edition of the Singapore event held earlier in the half.
'As expected, the pace of Edge by Ascential's revenue growth in 2019 will be tempered as we execute these important changes,' the company added.
Still, Ascential confirmed that it was trading in line with its expectations for the full year, ahead of the Cannes Lions Festival opening on 17 June.
The festival reported a year-on-year increase in engagement from two key markets: entry numbers from China increased 5%, and India 8%, the company said.