Shares in advertising creative production company Wellcom Group jumped today on an earnings guidance upgrade.
They closed at $5.39, up 3.6%.
The company told the ASX it now expects earnings per share in 2019 to be 30% to 35% higher than the previous year.
Previously the company had expected growth in the range of 10% to 15%.
Part of the reason for the upgraded was a buyout agreement with the landlord of Wellcom’s existing US commercial property lease, giving a net benefit before tax of $6.7 million.
In February Wellcom announced a 5% rise in first half revenue to $79.95 million. After tax profit was up 11% to $6.6 million.
The Sydney-based Wellcom bills itself as one of the world's leading independent creative production agencies.
Have something to say on this? Share your views in the comments section below. Or if you have a news story or tip-off, drop us a line at adnews@yaffa.com.au
Sign up to the AdNews newsletter, like us on Facebook or follow us on Twitter for breaking stories and campaigns throughout the day.