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Aeorema Communications issue FY final results

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Final Results

Aeorema Communications, an AIM-traded live events agency, has announced its results for the year ended 30 June 2014.

Overview:

· Positive progress made towards building the Group as a leading provider of live events
· Increased profits before tax from continuing operations to £504,841 (2013: £358,864)
· Increased revenues to £4,764,584 (2013: 3,992,751)
· Cash at bank and in hand of £1,620,895 (2013: £1,581,790)
· Recommend dividend payment of 2p – plus special 3p dividend to return cash to shareholders (2013: dividend payment: 1.5p and special dividend: nil)
· Secured preferred supplier status positions with leading financial clients
· A new single brand, Cheerful 21st, and an associated website is being developed to reflect future strategy to become the live event agency of choice

Chairman’s Statement:

Aeorema continues to build its position as a leading provider of live events by exploiting the strengths of its team and bringing new innovative ideas and products effectively to life.

During the year under review, we signed a number of deals, increasing both market share and profitability. We were particularly pleased to win a three year contract worth over £2 million with an existing technology client to run a live event at the annual Cannes Lions advertising festival. We ran the first of these events this year, which was a great success. Furthermore, Aeorema extended and won new roster positions with key organisations in the financial services industry. Notably, we also created several ‘bid’ films for clients, which resulted in them winning major projects.

I believe that organisations choose to work with Aeorema for various reasons. Firstly, we provide both new and existing customers with award-winning solutions using the latest technologies and interactive platforms; during the year we won several awards at the event industry’s two major ceremonies – Eventia and Livecom. Secondly, our clients choose us because they know we are committed to their success, have the reputation for encouraging them to push boundaries, provide seamless, progressive, solutions and help them to stand out in a crowded market now, and into the future.

It is inspiring to see the way our team works together and strives for ways to improve our collective performance. Throughout the year, their commitment, talent and integrity have led to the delivery of remarkable results. Post period end, we strengthened this team with the appointment of Steve Garvey as our new CEO. Steve’s 25 years’ experience in corporate communications, which saw him work for a number of cutting edge businesses in the sector, will be invaluable as we take Aeorema into a new phase of growth.

Our emphasis now is on enabling Aeorema to achieve its full potential by continuing to excite our clients with superb concepts and exceptional end results. Our five year plan is to become ‘the’ live events agency of choice, with a strong focus on innovation. To this end, we are launching a new single brand, Cheerful 21st, as well as a website, with a focus on live events. We intend to continue to grow our business organically, expanding both revenues and profits. Importantly, we signed a new five-year lease on our office in the West End, which is large enough to support this growth.

The results for the year show a profit before taxation from continuing operations of £504,841 (2013: £358,864) on revenue of £4,764,584 (2013: £3,992,751). We remain cash positive with cash at bank and in hand of £1,620,895 (2013: £1,581,790).

The Board is proposing a dividend of 2 pence per share to be paid on 21 November 2014 to shareholders on the register on 24 October 2014. This has increased substantially from last year’s dividend of 1.5p and additionally, in light of our strong cash position at the year end, the Board is delighted to propose a special dividend of 3 pence per share to be paid on 21 November 2014 to shareholders on the register on 24 October 2014. The ex-dividend date for both the final dividend and the special dividend will be 23 October 2014.

On behalf of the board, I would like to thank our team for their hard work during the past year. Our thanks also go to our shareholders, whose continued support of Aeorema has helped us achieve record levels of performance in the year to June 2014.

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