AVS.L Share News (AVS)

LONDON (Dow Jones)--Avesco Group PLC (AVS.LN), an international provider of services to the corporate presentation, entertainment and broadcast markets, said Friday it made pretax loss of GBP2.48 million for the half year ended March 31, compared with GBP4.91 million, and said it anticipates a profitable outcome for the financial year. MAIN FACTS: -Revenue increased by 15% to GBP54.8 million versus GBP47.6 million -Cash generated of GBP4.2 million versus loss GBP2.2 million absorbed -EBITDA increased to GBP8.3 million versus GBP6.1 million -Trading loss reduced to GBP1.1 million versus GBP4.0 million -Operating loss of GBP1.7 million versus GBP4.3 million -Basic and diluted losses per share of 6.5 pence versus 15.9 pence -Net debt reduced to GBP17.5 million versus GBP25.9 million -The company is seeing significant business from the 2010 FIFA World Cup in South Africa and the World Expo in Shanghai and there has been a marked upturn in the North American market. Shares closed Thursday at 48.0 pence. -By Razak Musah Baba, Dow Jones Newswires; +44-20-7842-9275; razak.baba@dowjones.com (END) Dow Jones Newswires June 18, 2010 02:27 ET (06:27 GMT)