Capital markets event and trading update
17/06/2024 07:00
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RNS Number : 5696S Ascential PLC 17 June 2024
Monday 17 June 2024
Ascential plc
Capital markets event and trading update
Group trading in line with its expectations
Capital markets event
Ascential plc (LSE: ASCL.L), the specialist events, intelligence and advisory
company, will host a capital markets event at Cannes Lions in Cannes, France
on Wednesday 19 June 2024.
The event will outline the investment case and vision for the continued growth
of Ascential as a world-leading, events-led business and will be hosted by
Philip Thomas (Chief Executive) and Mandy Gradden (CFO), including
presentations from business leaders.
The presentations will be attended by a number of investors and analysts and
will also be broadcast live via
www.ascential.com/investors/reports-and-presentations
(http://www.ascential.com/investors/reports-and-presentations) from 12:30pm to
2:30pm BST (1:30pm to 3:30pm CET) on Wednesday 19 June. The presentations
will also be made available on the Company's website during the event and a
recording will also be available on-demand from our website in due course.
No new material financial information will be provided, beyond the content of
the trading update on the continuing operations of the Group as set out below.
Trading update
Given the proximity of the capital markets event to the half year end,
Ascential confirms that the Group is trading in line with its expectations for
the full year.
In the first half of the year, the Marketing division is expected to deliver
revenue growth in excess of 10% led by strong, double-digit growth from Cannes
Lions delegates and sponsorship, driven by a combination of strong delegate
volume growth, new pass launches and successful expansion of the physical
footprint of the festival.
Also, in the first half of the year, the Financial Technology division is
expected to deliver double digit revenue growth. Following particularly strong
growth in 2023, the European edition's revenues earlier in June were
approximately 8% lower than the prior year, reflecting the broader funding
conditions in the Fintech end market observed in the second half 2023.
Earlier in the half, Money20/20 successfully launched its Asian edition in
Bangkok, Thailand in April, with more than 3,000 attendees and revenues of
just over £6m.
Following completion of the £300m tender offer, the £450m special dividend
and the associated share consolidation, we remain focused on our 2024
priorities as communicated at our 2023 year end results and confident in our
medium-term growth targets and ambitions.
About Ascential
Ascential takes the world's leading brands to the heart of what's next for
their industries. We do this through our events, intelligence products and
advisory services. Our 700 people serve a global customer base from more than
100 countries in the large and growing Marketing and Financial Technology
sectors. Ascential plc is listed on the London Stock Exchange (LON: ASCL).
Contacts
Ascential plc
Philip Thomas Chief Executive Officer +44 (0)203 657 8950
Mandy Gradden Chief Financial Officer
Rory Elliott Investor Relations Director
Media enquiries
Matt Dixon FTI Consulting LLP +44 (0)20 3727 1000
Jamie Ricketts
Edward Bridges
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The person responsible for arranging the release of this announcement on
behalf of Ascential is Naomi Howden, Company Secretary.
This announcement contains "forward-looking statements" which includes all
statements other than statements of historical fact, including, without
limitation, those regarding the Company's financial position, financial
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