Last checked at 5 Dec 2016 12:43
Aeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media
5 December 2016
Aeorema Communications plc ('Aeorema' or 'the Company')
Trading Update
Aeorema Communications plc, the AIM-traded live events agency, provides a trading update. As outlined in the Company's full year results in October 2016, the trading environment in the event sector has been challenging with uncertainty causing customers to be more reserved in their event planning budgets. Indeed, the Company noted that the next six months could be rocky. Against this backdrop, trading during the first six months of the year has been in line with management expectations and it remains in a strong cash position. However, it is now evident that market volatility is affecting client spending plans and certain contracts have already either been postponed or cancelled. As a result, the Board of the Company now believes that trading during the second six months of the year will be below anticipated levels.
The Company has a strong market reputation in the delivery of creative and differentiated live events, incorporating both screen content and video. Given the skill sets within the Company and its market reputation, the Board believes that notwithstanding the short term challenges the Company is facing, its long-term strategy for the Company will see Aeorema prosper.
This announcement contains inside information for the purposes of Article 7 of Regulation (EU) no 596/2014.
**ENDS**
For further information visit www.aeorema.com or contact:
Gary Fitzpatrick Aeorema Communications plc Tel: 020 7291 0444
Marc Milmo/Catherine Leftley Cantor Fitzgerald Europe Tel: 020 7894 7000
Isabel de Salis/Megan Dennison St Brides Partners Tel: 020 7236 1177