26th Jan 2016 10:58
LONDON (Alliance News) - Aeorema Communications PLC Tuesday reported a fall in profit in the first half of its financial year but said it anticipates a stronger second half, as it has seen in previous years.
For the half year to end-December, the events organiser reported a pretax profit of GBP80,476, down from GBP101,316 a year before, on revenue of GBP1.6 million, down slightly from GBP1.7 million.
Aeorema operates under the brand Cheerful Twentyfirst. The company said that its marketplace remains competitive, noting that some existing clients have lowered budgets or cancelled events, but said it continues to believe it will see a stronger second half as it focuses on delivering opportunities in its pipeline.
"Overall, the team deserve our thanks for their achievements during a tough period. We are encouraged both by our business opportunities and the start we have made to the current year but, given the economic environment, we remain cautious in respect of profit growth," said Non-Executive Chairman Michael Hale in a statement.
Shares in Aeorema Communications were down 22% at 27.40 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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