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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 or contact:
| Mike Hale
| Aeorema Communications plc | +44 (0)20 7291 0444 |
| John Depasquale / Liz Kirchner (Corporate Finance) Kelly Gardiner (Sales and Corporate Broking) | Allenby Capital Limited (Nominated Adviser and Broker) | +44 (0)20 3328 5656 |
| Catherine Leftley/ Selina Lovell | St Brides Partners Ltd (Financial PR) | info@stbridespartners.co.uk |
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