EXP Expomedia Grp

    RNS Number : 8448H
  Expomedia Group PLC
  10 November 2008
   
    10 November 2008


    EXPOMEDIA GROUP PLC
    ("Expomedia" or "the Group")

    TRADING UPDATE

    The Board of Expomedia, the AIM quoted media group with interests in exhibitions, conferences, venue management and related publishing,
announces that since the release of its Interim results on 22 September 2008, the Group has seen a significant reduction of revenues.  

    This is due to significant reduction in bookings and a high level of cancellations across the Group's events as a result of the current
weak economic climate spreading across the world.   As a result, the Board anticipates that the results for the year ending 31 December 2008
will be significantly below current market expectations.

    Following the reduction in revenue, the Board is undertaking an immediate programme of cost savings across the Group which will reduce
current overheads significantly.

    In addition, as a further result of the current global financial crisis, the expected sale of assets in Germany referred to in the
Interim statement were postponed. 

    The result is immediate pressure on the Group's working capital.   The Group is in discussions with its bankers, and also in the
meantime with key investors to secure a placing of new equity to strengthen its capital base and a further announcement will be made shortly
in this respect.

    --END--


    Enquiries:


    Bishopsgate Communications Ltd.
Maxine Barnes
Gemma O'Hara
    Tel: 020 7562 3350

    Expomedia Group Plc
Mark Shashoua/Darra Comyn
Tel: 020 8386 0070


    Charles Stanley Securities (Nominated Adviser)
Mark Taylor
Tel: 020 7149 6000



This information is provided by RNS
The company news service from the London Stock Exchange
 
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