REG - Aeorema Comms Plc - Trading Update: Strong revenue & profit growth

Aeorema CommunicationsAnnouncement

25/07/2023 07:00

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RNS Number : 0258H  Aeorema Communications Plc  25 July 2023

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

25 July 2023

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

 

Trading Update

 

Strong revenue & profit growth

 

Aeorema 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.

 

HIGHLIGHTS

·  Record revenue: FY2023 revenue expected to be no less than £19.8
million* (2022 audited: £12.2 million).

·  Increased profitability: FY2023 profit before tax expected to be no less
than £950,000* (2022 audited: £844,000).

·  Strong cash position: Cash balance at year end of £2.4 million* (2022:
£1.7 million).

·  Dividend Payment: Expected increased dividend payment subject to audited
results.

·  Outlook: Strong momentum anticipated through 2024 to produce another
successful year.

 

*Subject to audit

 

FY2023 is expected to be another record year for the Group with increased
revenue and profit, and a strong cash balance at the year end.

 

Prior 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.

 

Aeorema 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).

 

The Group is confident that the 2024 financial year will be another successful
year.

 

As 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:

https://www.investormeetcompany.com/aeorema-communications-plc/register-investor
(https://www.investormeetcompany.com/aeorema-communications-plc/register-investor)

 

Steve Quah, Aeorema CEO, commented: "I am thrilled to announce that, for the
second consecutive year, we expect to achieve record revenue and profit for
our financial year ended 30 June 2023.

 

"The material increase in group revenue has been achieved by securing
contracts from both new and existing clients.

 

"To service those accounts to our exacting standards we have strengthened and
grown our team both in the UK and USA. In particular, I'm delighted to report
that we have recruited a USA President to the senior management team who is
heading up and further driving the USA expansion. This sets us up for further
profitable growth in the USA.

 

"As commented in our interim results released in March 2023, we have been
investing heavily in our team, processes, and offices to ensure we are set up
for sustainable and scalable continued growth. These investments are already
reflecting very positive results in process efficiencies, culture, retention,
and brand reputation.

 

"Not only are we now very proudly operationally carbon neutral since 2019, but
our best-practice CSR approaches are being recognised and modelled by global
peers. Our continued investments in environmental impact, equity and
belonging, and ethical business practices have enabled us to efficiently
handle further growth, attract new tier one clients and retain best talent. We
are seeing the benefits of these investments and the extremely positive impact
they are having on our business.

 

"We ended the year on a terrific high with our largest presence at Cannes
Lions to date, including the Stagwell Sport Beach, one of the most noteworthy
activations of the festival; this success is down to our team, which I would
like to thank for their hard work and dedication on this event and throughout
the year.

 

"I am hugely excited to see what the next financial year will bring for
Aeorema as we build on the momentum, investment and growth we have experienced
over the past few years."

 

**ENDS**

 

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

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

 John Depasquale                      Allenby Capital Limited (Nominated Adviser & Broker)       Tel: +44 (0)20 3328 5656

 (Corporate Finance)

 Kelly Gardiner/Joscelin Pinnington

 (Sales & Corporate Broking)

 Paul Dulieu/Isabel de Salis          St Brides Partners Ltd                                    aeorema@stbridespartners.co.uk

                                      (Financial PR)

Notes to Editors

Aeorema Communications plc (AIM: AEO) is a leading strategic communications
group with offices in London, New York, and Amsterdam. The Group provides
bespoke event services, comprising live, virtual, and hybrid experiences to an
established international blue-chip client base spanning a broad range of
sectors, including finance, professional services, advertising, IT, gaming,
fashion, fintech, and beverages. The Group also provides high level
consultancy services to help clients maximise and deliver on their long-term
communication strategies over multiple event and film touchpoints.

 

Aeorema delivers these services via Cheerful Twentyfirst and Cheerful
Twentyfirst, Inc. (the North American arm of Cheerful Twentyfirst)
(cheerfultwentyfirst.com), its two live events agencies with film capabilities
that specialise in devising and delivering corporate communication solutions.
The Group also operates Eventful Limited (www.eventful.co.uk), which provides
consultative, high-touch services including assisting clients with venue
sourcing, event management and incentive travel.

 

Central to all that the Group does is its Corporate Social Responsibility
charter, which is focussed on ensuring sustainable, inclusive, and ethical
business operations. To this end, the Group is a pioneer in delivering
innovative strategies and services, including a client carbon measurement
programme to establish a formal structure and approach around reducing
emissions and offsetting both its own and its clients' carbon footprint.

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