[Correcting the name of the recently announced initiative]
LONDON (Alliance News) - Reach4entertainment Enterprises PLC Thursday said its performance improved over the course of its financial year and will therefore report results for the full-year in line with market expectations.
In a year end trading update ahead of its full-year results - to be published before April - the firm said it is trading profitably, from a "stable" platform while it has maintained close control on costs.
Looking ahead the firm said it is actively pursuing expansion through innovative strategic partnerships such as the recently announced Stage 17 initiative.
last month, the firm said it has been granted a 17% stake in digital theatre and arts entertainment platform Stage17 Inc, to support development.
Stage 17 has been funded and developed by Stoller Family Partners, of which David Stoller, executive chairman of Reach4entertainment is a general partner.
"We entered the 2014 financial year in good shape and I am confident that the Group will continue to make progress across all areas of its business throughout the year," Stoller said in a statement.
The stock closed at 6.00 pence Friday, down 0.25 pence or 3.9%.
By Anthony Tshibangu; anthonytshibangu@alliancenews.com; @AnthonyAllNews
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