London-based international marketing group MSQ has reported 35% year on year growth for the half year ended August (30% like for like) with EBITDA profits (the preferred measure for acquisitive companies) of £5.8m. Revenue was £42.6m.
MSQ had a busy pandemic, acquiring venerable below -the-line agency MBA (now part of MBAstack) and Be Heard Group, founded by Peter Scott.
MSQ now has 10 specialist agencies based in 13 offices around the world, including The Gate, Walk-In Media, MBAstack, twentysix and Smarts.
MSQ took ownership of a new London HQ in Covent Garden (it’s also the landlord of Wonderhood Studios in Soho) and recruited Deloitte’s Aaron Lang and Justin Cox to join a newly created North America team. MSQ also claims it is the first global marketing group to be carbon negative.
CEO Peter Reid (above) says: “These results are much more than a ‘Covid bounce’. We performed resiliently throughout 2020 and that gave us a platform to achieve significant growth in the first half of this year. It’s an extremely pleasing performance that will allow us to keep the momentum going throughout the second half of the year and beyond.”
Mini-marcoms groups (although MSQ has grown rather beyond that) have enjoyed mixed fortunes over the years although CEO Reid appears to have avoided most of the pitfalls, picking up some bargains along the way. Establishing a solid and growing presence in North America is often the biggest challenge for interlopers.