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Electric Word sells loss-making speech and language therapy publisher

Tue, 15th Nov 2016 11:32

(ShareCast News) - Electric Word has sold the trade and certain assets of its loss-making speech and language therapy publishing business for £1.85m. The AIM-listed company sold its subsidiary, Speechmark Publishing, to Informa UK, which is trading as Taylor Francis Group, with £1.66m payable on completion and the remaining £185,000 to be paid on the first anniversary of the completion date.The transaction follows the sale of its other subsidiary, Optimus Education, earlier in the month, and completes the sale of its education assets.The company will now focus on growing its SportBusiness Group, a provider of data, insight and analysis to the sports industry.The board is reviewing the infrastructure and working capital needed for the development of SportBusiness Group and the extent, form and timing for returning cash to shareholders.Speechmark was part of the Education division of the company that publishes books and other products to support the education and practice of speech and language therapists and other professionals working in educational needs, mental health and elderly care.In the year ended 30 November 2015, Speechmark made a loss before tax of £179,892, which includes a £156,370 charge towards central overheads, and a £95,000 management charge, on turnover of about £1.59m. Its gross assets were about £5.33m.Shares in Electric Word were up 10.77% to 3.6p at 1204 GMT.
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19 Jun 2015 13:22

Electric Word sells Radcliffe Publishing to Informa for £1m

Electric Word said on Friday that it has disposed of the trade and certain assets of the company's subsidiary, Radcliffe Publishing, to Informa UK for £1m. The consideration is being paid in cash and comprises £1m less a £43,061 adjustment for deferred revenue at completion, with £856,939 payable on

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19 Jun 2015 12:31

Electric Word Sells Radcliffe Publishing To Informa For GBP1 Million

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28 May 2015 07:32

LONDON MORNING BRIEFING: Germans Deflate Greek Debt Deal Optimism

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1 May 2015 07:29

LONDON MORNING BRIEFING: Lloyds Banking Results Please Market

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27 Apr 2015 05:13

AGM, EGM Calendar - Week Ahead

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24 Apr 2015 14:57

AGM, EGM Calendar - Week Ahead

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23 Feb 2015 08:47

Electric Word Posts Narrowed Pretax Loss, Current Trading In Line

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28 Jan 2015 13:07

Electric Word Sells Radcliffe Solutions For GBP125,000

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29 Aug 2014 11:58

Electric Word Narrows Loss, Warns Investment To Hit Short-Term Profit

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18 Feb 2014 10:05

UK BROKER RATINGS: Four Brokers Raise Hammerson Price Target

LONDON (Alliance News) - The following UK shares received analyst recommendations Tuesday morning:
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FTSE 100
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CITIGROUP CUTS ROLLS-ROYCE TO 'NEUTRAL' ('BUY')
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BERENBERG CUTS TATE & LYLE PRICE TARGET TO 775 (900)

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17 Feb 2014 12:53

Electric Word Swings To Pretax Loss As It Continues Restructuring

LONDON (Alliance News) - Media company Electric Word PLC Friday said it swung into a pretax loss in its last financial year as it booked GBP1.7 million in restructuring, tax recognition and impairment costs, though its revenues rose thanks to increased sales in its live events business. How

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8 Nov 2013 13:48

Electric Word Buys 50% Stake In iGaming North America Conference

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19 Aug 2013 07:22

Electric Word losses widen, upbeat outlook

AIM-listed specialist media business Electric Word reported deeper losses for the interim period to the end of May as it injected money in product development, sales and marketing at its three main divisions. The group, which provides training services for the education, healthcare and sport secto

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24 Dec 2012 07:39

London pre-open: Markets to open little changed

City sources predict the FTSE 100 will open down two points from Friday's close of 5,940, with light volumes of trading expected as investors wind down for the Christmas bank holidays. UK markets are only open for a half day today, closing at midday. Although the market´s moves are expected to be

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24 Dec 2012 07:18

Electric Word trading in line

Electric Word, which provides training services for the education, healthcare and sport sectors, said following its fundraising in August, trading is in line with company expectations. In its update ahead of its results for the year ended November 30th 2012 the group, which provides specialist info

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