Last checked at 25 Jul 2018 15:30
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulations (EU) No. 596/2014 ("MAR")
Aeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media
25 July 2018
Aeorema Communications plc
("Aeorema" or the "Company")
Trading Update
Ahead of Aeorema's Final Results for the year ended 30 June 2018 and further to its Interim Results for the six months ended 31 December 2017, announced in March 2018, the Company is pleased to report strong operational performance for the 2018 financial year.
The Company continues to maintain and build upon its blue-chip client base and during the year delivered several major events globally, with a series of large-scale events held at Cannes being a notable highlight in a successful year. The Company also continues to make positive progress in identifying new growth opportunities and is pleased to report that its recent move into experiential events with the appointment of Julian Staveley as Director of Experiential (as announced on 26 March 2018) has been well received, with a strong pipeline of new business prospects identified. This enhanced service offering bolsters the Company's offering to current clients whilst also providing exposure to a new target market in a rapidly growing area of events.
As a result of this positive operational performance, the Company is set to report total revenues for the year of not less than £4.7 million (2017: £4,156,592) with an operating profit pre-exceptional items of over £280,000 (2017: £248,367). The exceptional items include costs associated with the management restructuring as announced on 13 September 2017, which is a one-off, non-recurring cost. Alongside this, the Company has maintained its strong cash position with £1,446,562 in the bank as at 30 June 2018 (£1,897,212 at 30 June 2017). In light of these results, the Board of Aeorema wishes to announce its intention to pay a final dividend ("Dividend") of 0.75p (50% above last year's 0.5p) to shareholders for the year ended 30 June 2018. Confirmation of the Dividend will be subject to the Company's final audited results for the year ended 30 June 2018.
Looking ahead, the Company anticipates a similarly positive performance for the upcoming year as it continues to build upon on its position as an industry-leading, profitable, dividend-paying business with an illustrious blue-chip client base.
**ENDS**
For further information visit www.aeorema.com or contact:
Mike Hale | Aeorema Communications plc | Tel: +44 (0) 20 7291 0444 |
John Depasquale / Liz Kirchner | Allenby Capital Limited (Nominated Adviser and Broker) | Tel: +44 (0)20 3328 5656 |
Charlotte Page / Isabel de Salis | St Brides Partners Ltd | Tel: +44 (0) 20 7236 1177 |