Business
Interim Report
Interim Report.
About this update from Aeorema Communications Plc
[{"type":"text","content":"\n \nRNS Number : 7954T Aeorema Communications Plc 25 March 2019 \n\nAeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media\n \n25 March 2019\nAeorema Communications plc ('Aeorema' or 'the Company')\n \nInterim Report\n \nAeorema Communications plc, the AIM-traded live events agency, announces its unaudited results for the six months ended 31 December 2018. \n \nFinancial & Operational Overview\n \n· Revenues of £1,997,303, a year-on-year increase of 7% (2017: £1,869,439)\n· Operating loss pre-exceptional items of £141,765 (2017: profit £81,028)\n· Recruitment of key new senior staff has impacted costs\n· Robust cash position of £1,030,956 (2017: £1,038,130)\n· Notable new client wins \n· Continuing to build presence in the rapidly growing experiential events sector\n· Trading remains in line with market expectations for the full year to 30 June 2019\n \nChairman's Statement \n \nDuring the period, Aeorema has been delivering on its strategy of building on the Company's core business by providing enhanced services to clients, in particular the move into experiential events. As outlined in the Company's year-end results to 30 June 2018, this has led to a series of new business wins in the current period with both new and existing clients. \n \nThese wins include a substantial three-year contract with a large media company for an annual event in Cannes. It also has won a leadership event for a professional services company and has a good pipeline of opportunities for 2019/2020. These are in addition to projects from existing clients both this year, and scheduled for 2020.\nThe recruitment of two senior executive staff has increased costs in the short term but is expected to contribute to revenue growth going forward. Revenue is up 7% to £1,997,303 (2017: £1,869,439), however due to increased costs in the period, the Company is showing an operating loss for the period of £141,765 (2017: profit £81.028). The Company's cash position remains robust at £1,030,956. This position means the Company intends to pay a full year dividend, subject to the final audited results for the full year. \n \nThe fi...