29th Feb 2016 09:48
LONDON (Alliance News) - Reach4entertainment Enterprises PLC on Monday said trading had continued well into the last quarter of 215 and its full-year results were in line with market expectations.
The company, which specialises in theatre promotion, said it expects to post revenue, pretax profit and earnings before interest, tax, depreciation and amortisation in line with market expectations for the year ended December 31. This is despite its New York-based Spot & Co of Manhattan Inc, which is a theatre and live entertainment business, not matching its "exceptional" performance in 2014.
In its post-close trading update, Reach4entertainment said Dewynters Ltd, which is based in London, had performed well, with actions to reduce costs helping to produce an increase in profit contribution for the year.
"This has been a period of very positive transformation, and our focus is now very much on building upon our current level of business while pursuing opportunities for growth and innovation - all with the goal of continuing our leadership in the London and New York theatre and live entertainment markets," said Executive Chairman David Stoller.
Reach4entertainment shares were down 1.0% at 1.46 pence on Monday morning.
By Hannah Boland; [email protected]; @Hannaheboland
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