Trading Statement
17 September 2007 - 5:01PM
UK Regulatory
RNS Number:9186D
First Artist Corporation PLC
17 September 2007
First Artist Corporation plc
("First Artist" or "the Group")
Year end close trading statement and final results release date
First Artist Corporation plc, the integrated marketing, sport and entertainment
management group is pleased to issue a trading statement for the year ending
31st August 2007. Preliminary results for the year ending 31st August 2007 will
be released on Monday 19th November 2007.
Revenue in all divisions has increased over last year in line with market
expectations, with a strong pipeline of contracted income already in place for
the coming year. Significant investment has been made in information, management
and operating systems, resulting in an important enhancement of the management's
ability to execute its growth strategy.
Performance within the group's five divisions is summarised below;
Events
Corporate event revenues are ahead of last year and, following the recent
significant Public Sector contract win this division has had a strong finish to
the year.
Marketing
Following their successful integration into the Group, which considerably
expanded this division, both Dewynters' UK and US operations along with Newman
Displays, the UK's leading front of house and fascia display company, continue
to deliver strong growth. The division has been heavily involved with a
significant number of new West End shows this year, including Grease and Joseph
and the Amazing Technicolor Dreamcoat, both of which had very high profile
launches through their associations with prime time television programmes. Other
projects the division has worked on include the heavily marketed film launches
of Simpsons the Movie and Harry Potter and the Order of the Phoenix as well as
the handling of the US merchandising rights for Young Frankenstein, a musical
soon to be opening on Broadway, further developing the US merchandising business
which currently has contracts with hits, The Color Purple and The Phantom of the
Opera (Las Vegas).
First Rights, which was established in May 2007, acting on behalf of rights
holders has already completed three deals, including developing a sponsorship
strategy and implementation plan for The Art of The Simpsons and a leading
Football League Championship club.
Wealth
Optimal Wealth Management has increased revenues and maximised on its earn-out,
as announced on 13th September 2007. Post earn-out completion, senior management
have been retained on new contracts.
Entertainment
This division has had a solid year with many client revenues increasing. The
business is now working with programme production companies to develop new
programme formats for its clients, which are expected to complete next year.
Sport
This division has had its best performance for a considerable number of years
completing over 120 deals throughout the division, of which 17 were
international deals, many involving collaboration between our UK and
international group offices.
Jon Smith, Chief Executive of First Artist Corporation plc, said:
"This year has been a great success with growth in all divisions and further
sizeable growth already contracted for the coming years. We have witnessed a
step change for the group with all acquisitions now fully integrated and each
experiencing strong trading. I would like to thank all staff and senior
management for facilitating such smooth transition. The group is now positioned
to enter that next stage in its development as a major player in the
entertainment delivery sector".
Enquiries
First Artist Corporation plc
Jon Smith, Chief Executive
Richard Hughes, Group Managing Director Tel: +44(0) 208 900 1818
Bell Pottinger Corporate & Financial
Ann-Marie Wilkinson / Peter Otero Tel: +44(0) 207 861 3232
Dawnay, Day Corporate Finance Limited
David Floyd Tel: +44(0) 207 509 4570
This information is provided by RNS
The company news service from the London Stock Exchange
END
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