31st Mar 2022 11:14
Time Out Group PLC - London-based magazine publisher and food markets operator - More than doubles its revenue in the six months to December 31 to GBP32.0 million from GBP13.3 million the previous year. Pretax loss narrows to GBP10.5 million in the first half from GBP16.7 million a year prior. Time Out Media trading was "encouraging" in the period, Time Out adds, with net revenue up 43%. The company says that Digital revenue has continued to grow, boosted by selective print products in the UK, Spain and Portugal.
"We are encouraged by the progress made in the period, albeit in the face of the emergence of the Omicron variant. Our digital audience grew as our content remained relevant and engaging, footfall began returning to the markets and global brands advertised with us once again," Chief Executive Chris Ohlund says.
Current stock price: 52.80 pence, up 8.9%
12-month change: up 30%
By Heather Rydings; [email protected]
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