News Column

Perform Recruits Chief Financial Officer From WPP As Revenue Rises

May 8, 2014

Hana Stewart-Smith

LONDON (Alliance News) - Perform Group PLC said Thursday that it has snagged media buying giant WPP PLC'sAshley Milton as its new chief financial officer, as it saw revenue rise in the first quarter to end-March.

Milton presently works as chief financial officer for WPP's media investment division. Milton previously held the position of finance director at Tarsus Group PLC.

"[Milton] brings with him an excellent track record as a chief financial officer and also a highly valuable breadth and depth of experience of the advertising sector, which is a significant strategic focus of the group," said Perform Joint Chief Executive Officer Simon Denyer in a statement.

Perform said that it was on track to meet its expectations for revenue and earnings before interest, tax, depreciation and amortisation.

In the quarter digital sports media company saw revenue growth of 32% to GBP56.9 million from GBP43.0 million, Perform said.

Content distribution revenues rose 32%, driven by new contracts in its Watch & Bet business and a strong contribution from Opta Sports Data Ltd, which it acquired in 2013.

During the quarter it saw a strong performance in its display advertising business, it said, leaving it well positioned for the 2014 World Cup.

Perform's cost reduction plan is progressing on track, the company said, and it expects benefits from the plan to come through in the second half of the year.

Shares in Perform were trading up 11% at 260.00 pence Thursday morning, making them the biggest gainers in the FTSE 250.

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Source: Alliance News

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