14 Nov 2014 07:00
14 November 2014
reach4entertainment enterprises plc
('r4e' or 'the Group')
Trading Update
r4e, the transatlantic media and entertainment marketing company, today provides an update on trading following the end of the third quarter of the financial year on 30 September 2014.
As previously reported, the Group delivered an encouraging set of interim results. Trading has continued to be solid and the Directors remain confident that the Group will meet market expectations for the full financial year.
SpotCo, the Group's New York based theatre and live entertainment marketing business, delivered a strong performance in the first half of the year, boosted by a number of significant, one-off projects. The division has continued to perform well and it is likely that, given the impact of these one-off projects, performance in the second half of the financial year will match that of the first, rather than display the normal seasonal outperformance.
Conditions in the West End theatre market, where Dewynters, the Group's London based theatre and live entertainment business primarily operates, remain subdued and challenging. The division's position as market leader and association with established, long-running shows including Wicked, Les Miserables, Mamma Mia! andThe Phantom of the Opera, provides stability to its revenue stream. However, it is unlikely that the usual second half strength will be evident.
Newman Displays', the Group's signage and fascia business, performance remains satisfactory, despite the global downturn in film revenues. Most recently, work has involved delivering projects associated with the London Film Festival. The division's performance is traditionally second half weighted and the Group anticipates that this cyclical trend will be repeated again this financial year.
ENDS
Enquiries:
reach4entertainment +44 (0) 20 7968 1655
David Stoller, Executive Chairman
Blytheweigh (Financial PR) +44 (0) 20 7138 3204
Paul Weigh +44 (0) 7989 129658
Eleanor Parry +44 (0) 7551 293620
Allenby Capital (Nominated Adviser and Broker) +44 (0) 20 3328 5656
Jeremy Porter / James Reeve (Corporate Finance)
Katrina Perez/Kelly Gardiner (Corporate Broking)
Notes to Editors:
reach4entertainment enterprises plc ('r4e') is a collection of branding, marketing, design and advertising agencies that focus primarily on the theatre, film and live entertainment industries.
r4e's three principal operating divisions are Dewynters Ltd ('Dewynters'), Spot and Company of Manhattan Inc ('SpotCo') and Newman Displays Limited ('Newmans').
Dewynters, which was founded in 1876, is based in London and is a market leader in live entertainment marketing, branding and advertising campaigns.
SpotCo, founded in 1996, is based in New York and is a leading arts and live entertainment advertising and marketing agencies, producing a range of interactive, environmental and print campaigns.
Newmans was founded in 1988 and is the UK's leading large scale outdoor signage, front of house, marquee display and installation company. Clients include major West End theatre productions, leading film companies, cinemas and major global events.
The company is listed on AIM (AIM: R4E).