Print Published 4th Jan 2018, 09:52

Be Heard issues profit warning, splits executive chairman role and seeks new CFO

Be Heard Group, the AIM listed digital marketing business, announced today that profitability for 2017 is expected to fall below market expectations due to a number of “unexpected” factors that include a slowdown in activity at three subsidiaries – MMT Digital, Agenda21 and Freemavens – and the deferral of some contracts until 2018.

MMT also suffered cost overruns on a substantial contract. “Although this has now been addressed, it may result in a write-off of certain non-recoverable costs in 2017”, the company said.

Among senior management changes, founder Peter Scott has split his previous role of executive chairman into two – relinquishing the role of chairman, but continuing as chief executive despite the group’s loss-making performance to date.