Two news items last week focussed on the attraction to UK marketing companies of expanding in Australia and the Far East.
First the midget Asia Digital (founded in the UK as Deal Group Media) completed the sale of a business it had only recently developed in Australia. Then the giant Aegis Group gained approval for the acquisition of the listed Australian marketing company Mitchell Communication Group.
Asia Digital, the AIM listed digital advertising company with operations in the Far East and Australasia, announced today that it has acquired the technology “essential” for its performance advertising business from the administrators of its failed UK affiliate Deal Group Media (UK) (see Deal Group Media’s pending administration in Asia Digital trading update).
The imminent appointment of administrators at Deal Group Media (UK), the digital advertising sales business that is 49% owned by AIM listed Asia Digital, passed without mention when Asia Digital put out its positive trading update on 15 July (see Asia Digital hoping for a half-year profit). ”We look forward to the future with confidence”, said chief executive Adrian Moss who had founded the ailing Deal Group Media business in 1999.
Asia Digital, the AIM listed digital media agency formerly known as Deal Group Media, appears likely to achieve a near break even result for the half year to 30 June, although formal figures are not expected until September.
Every year something awful, every year more promises. And so Asia Digital (once known as Deal Group Media) trundles along with a shortage of profits, a shortage of working capital and a shortage of shareholders’ funds.
Asia Digital, the AIM listed digital marketing agency run by Adrian Moss that was previously known as Deal Group Media, has confirmed that it will report a loss for 2009 but said it was “cautiously optimistic moving into 2010”.
© Haymarket Media Group Ltd.
