REG - Aeorema Comms Plc - Trading Update & Amsterdam Office

Aeorema CommunicationsAnnouncement

18/08/2022 07:00

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RNS Number : 3959W  Aeorema Communications Plc  18 August 2022

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Aeorema Communications plc / Index: AIM / Epic: AEO / Sector: Media

18 August 2022

Aeorema Communications plc ('Aeorema' or 'the Company' or 'the Group')

Trading Update - Further Increase to Expected Profits

&

Opening of Amsterdam Office

Aeorema Communications plc, the AIM-traded live events agency, is pleased to
announce a further positive update to trading following the strong end to the
financial year ended 30 June 2022 ('FY 2022'), as previously reported.

Further to the announcement of 13 July 2022, Aeorema wishes to update full
year guidance and now expects to report FY 2022 revenue (subject to audit) of
£12.2 million (previous FY 2022 guidance of £11.8 million, FY 2021 actual:
£5.09 million) and profits before tax (subject to audit) of no less than
£830,000 (previous FY 2022 guidance of £700,000, FY 2021 actual: loss
£159,698).

The sheer scale of work completed in the final weeks of the financial year (YE
30 June 2022) primarily at Cannes Lions during June 2022 where Aeorema had its
largest ever presence with projects undertaken there increasing in scale
whilst on site, has had a further positive impact on expected profitability.

In addition, Aeorema is pleased to announce that it has opened a new office in
Amsterdam, the Netherlands, in reflection of the Company's increased activity
in mainland Europe.

The opening of an office in the Netherlands is a strategic decision by the
Board of Aeorema to allow the Group to meet the demands of its growing
European client base. Moreover, this is in accordance with Aeorema's 2022
Corporate Social Responsibility commitments to reduce its impact on the
environment by reducing travel through the ability to deliver projects with
local teams and equipment.

With headquarters in London, this represents the Company's third office,
following the opening of the Group's New York office in September 2021, and
advances Aeorema's continued expansion across the EMEA region in line with the
Company's five year strategy for global expansion, which is focused on local
delivery.

Steve Quah, CEO of Aeorema, commented: "Following our strongest year on
record, with an expected 139% increase in FY 2022 revenue of £12.2 million
and an increased expectation of profitability before tax of no less than
£830,000, there is undoubtedly strong demand for Aeorema's innovative event
services.  New business opportunities in mainland Europe and particularly in
the Netherlands are growing quickly and as a result we are delighted to have
opened a new office in Amsterdam. This gives both current and prospective
clients the confidence in our ability to deliver mainland Europe projects and
events without shipping production teams and equipment across borders. This is
a hugely exciting time for the Group as we continue to develop our local
offerings across EMEA."

 

*ENDS*

 

For further information visit  www.aeorema.com (http://www.aeorema.com/)
  or contact:

 

 Andrew Harvey                                  Aeorema Communications  plc                             +44 (0)20 7291 0444

 John Depasquale /                              Allenby Capital Limited (Nominated Adviser and Broker)  +44 (0)20 3328 5656

 Liz Kirchner (Corporate Finance)

 Kelly Gardiner (Sales and Corporate Broking)
 Catherine Leftley/ Selina Lovell               St Brides Partners Ltd                                  info@stbridespartners.co.uk

                                                (Financial PR)

 

 

 

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