Increases Ebitda Expectation Of Core Marketing Services Business From US$28.5 Million To Us$35.0 Million
TORONTO, Ontario (February 11, 2004) MDC Partners Inc. (“MDC”) of Toronto announced today that it has increased its EBITDA guidance on its core marketing services business from US$28.5 million to US$35.0 million after participation of minority partners for the year ended December 31, 2004. MDC is further increasing guidance on revenues from that business for fiscal 2004 to US$280 million from US$212 million.
“The increase in guidance is a reflection of the strong organic growth in our business from recent client wins coupled with the acquisition of a 60% interest in kirshenbaum bond + partners. We are enthusiastic about the recent new business wins and our momentum. This momentum, coupled with our lower operating cost base, is anticipated to enhance profitability going forward,” said Miles S. Nadal, Chairman and CEO of MDC.
About MDC Partners Inc.
MDC is one of the world’s leading marketing communications firms. Through its partnership of entrepreneurial firms, MDC provides advertising and specialized communication services to leading brands throughout the United States, Canada and the United Kingdom. MDC Class A shares are publicly traded on the Toronto Stock Exchange under the symbol MDZ.A and on the NASDAQ under the symbol MDCA. The Exchangeable Securities are publicly traded on the Toronto Stock Exchange under the symbol MDZ.N