Sparks

The combination of a rapidly shifting backdrop for marketing budgets, as newer channels gain ground, and a business fundamentally transitioning its business model has resulted in a difficult half year for Ebiquity. The volume of media reviews, where Ebiquity assists brand owners with agency selection, was also softer after a strong prior year. Group revenues were 7% down on H123, with a more substantial impact on adjusted operating profit, which was 61% lower. The transition to the new data and technology platform opens up broader opportunities for Ebiquity and should allow it to scale in a way that would not have been possible previously, but which has absorbed a lot of resource over the process of the shift. As that has moved through the peak, there has been a greater focus on building and converting the sales pipeline, holding out the promise of a better top line through H224 and 2025, with the operational gearing set to improve Ebiquity’s profitability.