24 Nov 2011 07:00
Avesco Group plc
Trading Update
Avesco Group plc (the "Group"), the provider of services to the corporate presentation, entertainment and broadcast markets, today issues the following trading update ahead of its full year results for the financial year ended 30 September 2011.
Trading in the final quarter of the financial year has continued the positive underlying trends in both revenue and margin that we have seen earlier in the year, with our Creative Technology business in North America (CTUS), MCL and Fountain Studios in particular delivering strong performances. Cash generation has also been very strong, producing a net positive cash flow for the Group after an investment of some £18m in new equipment to support the future growth and development of the Group.
Consequently the directors anticipate that when the results for the year to 30 September 2011 are announced in January 2012, they will be comfortably ahead of the current market expectations.
For further information please contact:
Avesco Group plc 01293 583400
Ian Martin, Chief Executive
John Christmas, Finance Director
finnCap 020 7220 0500
Ed Frisby, Corporate Finance
Brian Patient/Victoria Bates, Corporate Broking