Allenby Capital - Aeorema Communications plc - Interims

Aeorema Communications plc (AEO.L) reported a positive H1 (10% revenue growth to £7.2m), it grew its US, domestic and international businesses, added new global brands and saw no major client losses. Group guidance points to a stronger H2; £0.35m PBT for the 12 months to June, an underlying £0.55m profit adjusted for £0.2m of one-off costs associated with staff reductions this year. AEO is moving to a December year end, part of an initiative to improve earnings visibility and simplify forecasting. Hence the current financial year will be an 18-month period. As a result, when it reports interims in future, it will already know the scale and scope of key events being delivered for clients. This will remove the main source of uncertainty fo...