Arena Events losses deepen on higher costs

Fri, 3rd Jul 2020

Event solutions provider Arena Events reported wider losses as higher costs offset a rise in revenue in the 15 months through 31 March. For the 15 months ended 31 March 2020, pre-tax losses widened to £23m from £1.6m reported in December 2018, while revenue increased by 36% to £183.2m. The company recorded exceptional costs of £17.5m, up from £5.4m. 'To better reflect the seasonality of the business the group has changed its year-end to March, with a transitional fifteen-month period containing two seasonally quiet calendar Q1 periods,' the company said. The company did not propose a final dividend proposed, taking the total dividend to 0.25p, down from 1.5 pence at the end of December 2018. At 10:03am: (LON:ARE) Arena Events Group Plc Ord 1p share price was -1.25p at 5.5p Story provided by StockMarketWire.com

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