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Interim Results
Aeorema Communications, an AIM-traded live events agency, has published results for the six months ended 31 December 2014.
Overview:
· Pre-tax profits of £101, 316 on a turnover of £1,658,315
· Stronger second half anticipated with new client wins and repeat work
· Strong cash position of £1,219,527 after payment in the period of a dividend and special dividend totalling £452,500
Chairman’s Statement (In Full):
“The Company remains strong as it continues to build its position as a provider of live events under one brand, Cheerful 21st.
We have a robust balance sheet with £1,219,527 cash in the bank (2014: £1,466,352) and good revenue generation of £1,658,315 (2014: £1,812,493), slightly down due to a project being cancelled although we remain ahead of our budget. We anticipate a stronger second half and are pleased to have added some new clients along with confirmation of our larger summer projects. During the six months we achieved a pre-tax profit of £105,316 (2014: £225,941). Operational costs were £702,238 (2014: £700,102).
The Board has continued to focus upon the Company’s strategy, which brings innovative live event products and solutions to a range of highly sophisticated customers including senior leaders and partners in global professional and engineering services, technology and telecoms firms. We have made good progress in supporting these clients resulting in excellent feedback and considerable repeat work.
Over the past six months we were rewarded with nominations and wins at the EVCOM awards, the official industry body for the visual communications sector, for the work we are doing under our new single brand.
It is imperative that we remain cautious and keep a tight rein on costs as there is still volatility in the market. However, whilst keeping this in mind, we see great opportunities ahead, as we build on the creative capabilities of our team and deliver unique products to create growth under strong leadership. I want to thank all our colleagues at for their hard work, and our shareholders for their continued support.
M Hale
Chairman
