Mecom expects 2013 profit beat

MECOM Group’s trading update pleased investors yesterday, as shares in the company rose by over 22 per cent to 115p.

The publishing group said results for 2013 are expected to exceed predictions, with full year earnings before interest, taxes, depreciation and amortisation (Ebitda) estimated at approximately €87m (£72.3m).

“The 2013 ongoing Ebitda and earnings per share are approximately €74m and approximately 20 euro cents per share, respectively,” said Rory Macnamara, chairman of Mecom Group.