13th Feb 2015 08:14
LONDON (Alliance News) - Aeorema Communications PLC said Friday that it anticipates a stronger second half, as it posted a drop in pretax profit due to lower revenues in its first half.
In the half year to end-December the live events agency posted a pretax profit of GBP101,316, more than halved from GBP225,941 a year before, as revenue fell to GBP1.7 million from GBP1.8 million.
The company attributed the reduction in revenue to a project being cancelled, but expects a better performance in its second half as it has added some new clients and has had confirmation of its larger summer projects.
Aeorema said it is "imperative" that it remains cautious and keep a tight control of costs as there is still volatility in the market. "However, whilst keeping this in mind, we see great opportunities ahead, as we build on the creative capabilities of our team and deliver unique products to create growth under strong leadership," said Chairman Michael Hale in a statement.
Shares in Aeorema are trading down 21.3% at 38.15 pence Friday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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