LONDON (Alliance News) - Reach4Entertainment PLC shares dropped on Friday morning after the company said that while it expects to meet market expectations for the full year, trading in its business units is mixed at present.
The group said trading since its results for the half-year to June has been solid and said it is confident of meeting market expectations for the year.
The media and entertainment marketing company said SpotCo, its New York-based theatre and live entertainment marketing arm, delivered a strong first half performance, but said its results are likely to be weighted to the first half due to the one-off contracts won during the first six months.
It expects its second-half results for SpotCo to be in line with the first half, rather than the traditional weighting to the second half.
The company said its Dewynters business, which focuses on the West End in London, is still contending with a challenging trading environment. It does not expect the usual second-half strength of the business to be repeated this year.
Its Newman Displays' signage and fascia arm is showing a "satisfactory" performance, it said, despite a downturn in global film revenue. It does expect the traditional weighting of this division to the second half to be repeated.
Shares in the company were down 9.2% to 4.20 pence on Friday, making it one of the worst performers in the AIM All-Share.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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