TIDMAEO
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
GBP19.8 million* (2022 audited: GBP12.2 million).
-- Increased profitability: FY2023 profit before tax expected to
be no less than GBP950,000* (2022 audited: GBP844,000).
-- Strong cash position: Cash balance at year end of GBP2.4 million* (2022: GBP1.7 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 GBP19.8 million for FY 2023 (FY 2022: GBP12.2 million),
profits before tax subject to audit of no less than GBP950,000 (FY
2022: GBP844,000) and a cash balance at year end of GBP2.4 million
(2022: GBP1.7 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
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 or contact:
Andrew Harvey Aeorema Communications Tel: +44 (0) 20 7291
plc 0444
John Depasquale Allenby Capital Limited Tel: +44 (0)20 3328
(Corporate Finance) (Nominated Adviser 5656
Kelly Gardiner/Joscelin & Broker)
Pinnington
(Sales & Corporate
Broking)
Paul Dulieu/Isabel St Brides Partners aeorema@stbridespartners.co.uk
de Salis Ltd
(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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END
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July 25, 2023 02:00 ET (06:00 GMT)
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