16 Dec 2014 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 2014.
The restructuring of the Group's Creative Technology and Presteigne Broadcast Hire businesses in mainland Europe has now been completed in line with our previous cost estimates and it is pleasing to note that the cost savings derived from this exercise are already coming through, both stronger and quicker than anticipated.
The final quarter of the year was also extremely busy for the Group, with a particularly strong performance from Creative Technology in North America.
Consequently the directors anticipate that operating profits and trading profits (being operating profits excluding the impact of non-recurring restructuring costs), before and after net finance costs, for the year ended 30 September 2014, will be ahead of current expectations. The Group's results for the year ended September 2014 are planned to be announced on 15th January 2015.
For further information please contact:
Avesco Group plc 01293 583400
Richard Murray, Chairman
John Christmas, Finance Director
finnCap 020 7220 0500
Julian Blunt/Ed Frisby, Corporate Finance
Victoria Bates, Corporate Broking