Business
Trading Update: Strong revenue & profit growth
Trading Update: Strong revenue & profit growth.
About this update from Aeorema Communications Plc
[{"type":"text","content":"\n\nAeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media\n25 July 2023\nAeorema Communications plc (\"Aeorema\" or the \"Company\" or the \"Group\")\n \nTrading Update\n \nStrong revenue & profit growth\n \nAeorema Communications plc (AIM: AEO), a leading strategic communications group, is pleased to announce an update on trading for the year ended 30 June 2023 (\"FY2023\") following a strong second half of the year.\n \nHIGHLIGHTS\n· Record revenue: FY2023 revenue expected to be no less than £19.8 million* (2022 audited: £12.2 million).\n· Increased profitability: FY2023 profit before tax expected to be no less than £950,000* (2022 audited: £844,000).\n· Strong cash position: Cash balance at year end of £2.4 million* (2022: £1.7 million).\n· Dividend Payment: Expected increased dividend payment subject to audited results.\n· Outlook: Strong momentum anticipated through 2024 to produce another successful year.\n \n*Subject to audit\n \nFY2023 is expected to be another record year for the Group with increased revenue and profit, and a strong cash balance at the year end.\n \nPrior to year-end, Aeorema had its biggest presence to date at the Cannes Lions International Festival of Creativity 2023 including partnering with Stagwell (NASDAQ: STGW) to create 'Sport Beach', one of the largest brand activations at the Cannes Lions event. The Company continues to be recognised by industry peers having collected several industry awards during the year and is pleased that Eventful Limited, its venue sourcing and incentive travel agency, has returned to profitability.\n \nAeorema expects to report, subject to audit, revenues of no less than £19.8 million for FY 2023 (FY 2022: £12.2 million), profits before tax subject to audit of no less than £950,000 (FY 2022: £844,000) and a cash balance at year end of £2.4 million (2022: £1.7 million).\n \nThe Group is confident that the 2024 financial year will be another successful year.\n \nAs announced on 21 July 2023, Steve Quah, CEO, will be providing a live investor update on Wednesday 26 July 2023 at 11:00am BST. Investors can register to join the event via the following link:\nhttps://www.investormeetcompany.com/aeorema-communications-plc/register-investor\n \nSteve Quah, Aeorem...