The group said that trading in the first half of the year had ‘shown a significant improvement’, with revenues during the first six months matching those it achieved during the whole of 2012.
In a pre-close trading statement this morning, the group said that towards the end of the first half, two of its three original start-up companies produced profits for the first time.
It predicted this trend would continue into the second half of the year as Porta looks to produce profits similar to first-half losses, even allowing for the start-up losses of the new ventures in the Asia-Pacific region.
The statement added: ‘The opportunities available in Australia and Singapore have proved to be more substantial than originally anticipated and therefore required greater investment, which we believe will create more substantial businesses and provide greater returns in the future.’
Porta has set up a number of international comms businesses in the first half of the year.
The group hired former Kreab Gavin Anderson managing partner Fergus Wylie as director of international development and has brought in former KGA executives Terence Foo and Richard Barton to open businesses under the Newgate brand in Singapore and Hong Kong respectively.
The group vowed to continue its expansion through acquisition, stating it is ‘looking to acquire a number of established income-producing companies in the second half to bolster both the Newgate global brand and its consumer advertising agency TTMV’.