8 Nov 2010 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 results for the twelve months ended 30 September 2010, which will be released in January 2011.
The underlying trading performance in the second six months of the last financial year continued to build on the positive momentum established in the first half of the year. The Group expects the results for the year as a whole to be in line with market expectations and to show a growth in revenues together with a further improvement in trading profit.
The strong cash generation of its businesses has contributed to a further substantial reduction in net debt at the year end when compared to both prior year end and the position at half year to 30 March 2010. The Group continued to make significant investments in new equipment during the year which will benefit future results as it looks to increase market share.
The current financial year has started well, indicating a continuation of the more positive trends in the markets in which the Group operates.
For further information please contact:
Avesco Group plc 01293 583400
Ian Martin, Chief Executive
John Christmas, Finance Director
FinnCap 020 7600 1658
Corporate Finance
Clive Carver/Ed Frisby
Corporate Broking
Tom Jenkins