8th Oct 2013 08:38
LONDON (Alliance News) - Aeorema Communications PLC Tuesday said it was recommending its first ever dividend after swung back to a pretax profit in its last financial year thanks to a jump in revenues.
The screen media and events company said it is proposing an "enhanced" maiden dividend of 1.5 pence a share, although it thinks dividends will be "normalised" in the future.
That came after it posted a pretax profit of GBP358,864 for the 12 months to June 30, compared with a loss of GBP36,272 a year earlier, as revenues jumped 41% to just under GBP4 million, from GBP2.8 million. Its cash position improved to GBP1.6 million, from GBP756,642.
"Work undertaken during the year includes films and strategic advice on two events run by a professional services firm, events at the Cannes Lions for a global software company and a series of films for a leading management consultant for its new graduate recruitment microsite," it said in a statement.
The company's shares were up 24% at 42 pence Tuesday morning, the biggest increase on AIM.
By Steve McGrath; [email protected]; @stevemcgrath1
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