23rd Jan 2017 11:53
LONDON (Alliance News) - Live events agency Aeorema Communications PLC on Monday reported a slight fall in pretax profit for its first half amid an "uncertain" trading environment.
For the half year to the end of December, Aeorema reported pretax profit of GBP77,180, down from GBP80,476 the previous year, on revenue of GBP1.6 million, flat year on year.
The company said the trading environment in events had been hit in part by post-Brexit market uncertainty, leading clients to be more hesitant in their event planning budgets, with some contracts either being postponed or cancelled.
Aeorema traded in line with management expectations in the first half, but cautioned its second half remains challenging.
"However, we believe that these are short-term challenges and in the longer term we remain confident that our strategy and strong market reputation in the delivery of creative and diverse live events will see Aeorema prosper. As such, we continue to differentiate ourselves in the market with our distinct skill-set, working with several blue-chip corporations and attracting a pipeline of potential quality business," the company said.
Shares in Aeorema were untraded Monday, last closing at 27.00 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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