6 Feb 2014 07:00
6 February 2014
reach4entertainment enterprises plc
('r4e', the 'Company' or the 'Group')
Year End Trading Update
r4e, the transatlantic media and entertainment marketing company, today provides an update on trading ahead of its preliminary results announcement for the year ended 31 December 2013, which will be announced before the end of April 2014.
Trading Update
As expected, r4e's performance improved over the course of the financial year and the Company will report results for the full year in line with market expectations.
David Stoller, Executive Chairman, r4e, said:
"It has been a solid year of performance and progress for the Group. The Company is trading profitably, from a stable platform, with a clear strategic direction for the Group as a whole and for each of its operating divisions.
"At Group level we continue to maintain a close control on costs, with continuing progress being made at head office in 2013, where further cost reductions are expected in the current financial year.
"r4e's operating divisions are maintaining and, where possible, enhancing their marketing-leading positions in the core theatre and arts sectors, while continuing to seek revenue growth through diversifying into new, complementary business sectors. The Group is also actively pursuing expansion through innovative strategic partnerships, such as the recently announced Stage 17 initiative.
"We entered the 2014 financial year in good shape and I am confident that the Group will continue to make progress across all areas of its business throughout the year."
Ends
Enquiries:
reach4entertainment +44 (0) 20 7968 1655
David Stoller, Executive Chairman
Sarah Hall, Chief Operating Officer
Blythe Weigh Communications +44 (0) 20 7138 3204
Paul Weigh +44 (0) 7989 129658
Eleanor Parry +44 (0) 7551 293620
Cantor Fitzgerald Europe +44 (0) 20 7894 7000
Mark Percy (Corporate Finance)
David Banks / Paul Jewell (Corporate Broking)
Allenby Capital +44 (0) 20 3328 5656
Katrina Perez/Kelly Gardiner