REG - Aeorema Comms Plc - Trading Update

Aeorema CommunicationsAnnouncement

18/02/2022 07:15

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RNS Number : 0676C  Aeorema Communications Plc  18 February 2022

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

18 February 2022

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

Trading Update

Aeorema Communications plc, the AIM-traded live events agency, is pleased to
announce an update on trading for the first half of the current financial
year.

 

Aeorema has benefitted significantly from a strong performance from its U.S.
office, which opened during September 2020. The office continues to grow and
win new U.S. based clients to complement the Company's existing multi-national
blue-chip client base. Moreover, Aeorema's shift since 2020 into providing
virtual online conferences and events has experienced high levels of demand,
and the provision of consultancy services has further enhanced its performance
for the period.

 

Aeorema now expects to report revenues of no less than £4.9 million for H1
2022 (H1 2021: £1.67 million), exceeding the previously reported revenue
expectation of £4.5 million for the period as previously announced on 14
December 2021. As a result of this record performance, profits before tax of
no less than £235,000 (H1 2021: Loss before tax of £287,676) are anticipated
representing the first profitable H1 in a number of years.

 

The prospects for the second half of 2022 remain favourable and the Company is
confident that it will continue this trajectory into H2 2022.

 

Steve Quah, CEO, commented: "I am delighted to report our best performance yet
during the first half of this financial year, far exceeding our expectations
for the period. This is especially positive to see following the transitional
period for the Company last year, having opened our first office in New York
and started to provide consultancy services to our clients, alongside our
existing offering. It is encouraging to see the success of this shift in
strategy and I look forward to seeing it grow further."

 

*ENDS*

 

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

 

 Mike Hale                                      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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