Time Out Group plc Trading Update (7140C)
24 January 2018 - 6:00PM
UK Regulatory
TIDMTMO
RNS Number : 7140C
Time Out Group plc
24 January 2018
24 January 2018
Time Out Group plc
("Time Out", the "Company" or the "Group")
Trading Update
Twelve months to 31 December 2017
- Time Out delivers strong progress -
Time Out Group plc (AIM: TMO), the global media and
entertainment business, today announces its trading update for the
twelve months to 31 December 2017.
The Board is pleased to report that revenue and adjusted EBITDA
are anticipated to be in line with its expectations for the full
year.
Time Out Group revenue is expected to have increased by 19%
year-on-year on a proforma(1) basis with strong growth across both
Time Out Digital and Time Out Market.
Time Out Digital is projected to deliver e-commerce revenue
growth of 57%, Premium Profiles revenue growth of 43%, digital
advertising revenue growth of 21% and print revenue growth of 1%,
compared to the prior year. Overall, Time Out Digital has seen
revenue growth of 15%.
Time Out Market is expected to show year-on-year revenue growth
of 60% in the period. Time Out Market in Lisbon has continued to
perform strongly and has seen over 3.6 million visitors in the full
year of 2017, compared to 3.1 million in the prior year.
The Group expects to report its annual results for 2017 on
Wednesday 28 March 2018.
Julio Bruno, CEO of Time Out Group plc, stated:
"Time Out Digital continues to make substantial progress in its
core areas and in particular e-commerce has seen excellent growth
with more transactions across more verticals. Our Time Out Market
in Lisbon continues to perform particularly well and we are excited
about rolling out this incredibly successful format globally, with
plans on track for new markets which have been recently announced
in Miami, Boston and Chicago.
"This year we celebrate 50 years since Time Out launched to
inspire and enable people to make the most of the city with unique,
curated content and it remains as relevant now as when it first
started. We couldn't be more proud of where the brand stands today
as millions of people globally rely on us to discover and enjoy
cities around the world, making Time Out the only true global
marketplace for city life."
This announcement contains inside information for the purposes
of Article 7 of Regulation (EU) no 596/2014.
For further information, please
contact:
Time Out Group plc Tel: +44 (0)207
813 3000
Julio Bruno, CEO
Richard Boult, CFO
Steven Tredget, Investor Relations
Director
Liberum Capital Limited (Nominated Tel: +44 (0)203
Adviser and Broker) 100 2222
Steve Pearce / Jill Li
FTI Consulting LLP Tel: +44 (0)203
727 1000
Edward Bridges / Stephanie Ellis
/ Emma Hall / Frances Bussey
Notes to editors
About Time Out Group plc
Time Out is a multi-platform media and e-commerce business with
a global content distribution network comprising magazines, online,
mobile apps, mobile web and physical presence via Live Events and
Time Out Market. Using these platforms and its well-established
global brand, Time Out seeks to inspire and enable people to
experience the best of a city, through curated content around food,
drink, music, theatre, art, travel and entertainment. Time Out,
listed on AIM and headquartered in the United Kingdom, has a
presence in 108 cities and 39 countries with an average monthly
global digital audience reach of 242 million.
(1) Time Out Market was acquired by the Group on 13 June 2016.
All Group figures quoted in this announcement include, on a
proforma basis, 12 months of trading of Time Out Market
This information is provided by RNS
The company news service from the London Stock Exchange
END
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January 24, 2018 02:00 ET (07:00 GMT)
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