LONDON (Alliance News) - Ascential PLC on Tuesday said it expects to report revenue growth in 2018 following a strong performance in the US and launch of Money20/20 China.
The exhibitions & events company anticipates annual revenue to be between GBP345 million and GBP349 million, ahead of GBP344 million consensus. In 2017, Ascential generated revenue of GBP292.9 million.
Revenue in the company's subsidiary Money20/20 is anticipated to improve by 37% year-on-year, with 4.3% revenue growth in the US to GBP29.4 million. The Money20/20 unit will also benefit from the launch in China, where revenue is expected to total GBP2.5 million, Ascential said.
Annual adjusted earnings before interest, taxes, depreciation, and amortization is expected to be in the range of GBP101 million to GBP103 million, compared to consensus of GBP103 million. In 2017, Ascential reported an adjusted Ebitda of GBP94.7 million.
Ascential shares were down 0.4% on Tuesday at 380.60 pence each.
Ascential (ASCL)