30th Sep 2019 11:02
(Alliance News) - Live events agency Aeorema Communications PLC said Monday profit and revenue rose in its recently ended financial year on new and existing projects.
For the year to the end of June, Aeorema said pretax profit rose sixfold to GBP375,010 from GBP58,685 the year before, on revenue that grew by 40% to GBP6.8 million from GBP4.8 million.
Excluding exceptional items, pretax profit increased by 29% year-on-year to GBP374,399 from GBP289,650.
During the year, Aeorema benefited from securing a major new customer, and from getting more from existing customers. Aeorema at the end of the year had five major customers, compared to four the prior year.
Aeorema declared a dividend of 1.0 pence per share, up 33% from 0.75p the year before.
Looking ahead, the company will focus on sustaining client relationships and continuing to acquire new clients to ensure that a robust pipeline of business is in place.
Aeorema is confident of future growth in the current financial year following new client wins, including an unnamed law firm and several technology companies.
"It is testament to the strength of Aeorema's core business and established relationships that we have been able to successfully advance our strategy of enhancing the offering that we can provide our clients during the financial year," said Chair Mike Hale
"The notable increase in revenue and profit reported in the period validates this strategy and provides confidence for the board as we continue to look to ways to grow and improve your group, with margins maintained at an acceptable level," Hale added.
Shares in Aeorema Communications were up 3.9% at 27.00 pence on Monday.
By Dayo Laniyan; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
Related Shares:
Aeorema Comm.