Ebiquity cuts costs as lower revenue weighs on underlying profit
Ebiquity ($EBQ) reported first-half revenue of £36.1 million, down 5%, and adjusted operating profit of £2.3 million, down 10%. The adjusted operating margin slipped to 6.5% from 6.8%. Statutory pretax profit recovered to £0.4 million from a £9 million loss, but the earlier period was affected by exceptional charges, including a noncash goodwill impairment. The marketing-advisory group reduced operating costs by £1.5 million, helping offset weaker sales. Free cash flow nevertheless moved to a £1
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