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Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
---|---|---|---|---|---|
Expomedia Grp | LSE:EXP | London | Ordinary Share | GB0031056673 | ORD 5P |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.00 | 0.00% | 1.25 | 0.00 | 01:00:00 |
Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
---|---|---|---|---|---|
0 | 0 | N/A | 0 |
RNS Number:1062A Expomedia Group PLC 12 July 2007 12 July 2007 EXPOMEDIA GROUP PLC ("Expomedia" or "the Group") PRE-CLOSE TRADING UPDATE NOTICE OF RESULTS Strong progress made in 2007 with profitability ahead The Board of Expomedia Group plc, the AIM listed international exhibition, conference and publishing company, is pleased to provide shareholders today with an update on trading for the six months ended 30 June 2007 prior to the Company entering its close period, which reflects trading performance in line with expectations, and a significant improvement over the prior year . KEYPOINTS: * 2007 set to be profitable; * Significant increase in turnover from continuing activities - up by over 32% including share of JVs; * First positive interim EBITDA - a major improvement from 2006; * Current bookings on continuing activities for 2007 up by 42%; * June: Acquisition of a 90% interest in events business 'EXPOSYSTEMS'; * May: Group's largest acquisition to date in the leading branded property events: Homebuyer Events Ltd.; * April: Acquisition of World Food Market exhibition; * Conference business up by 74%; * Further opportunities for strong organic growth and potential acquisitions; and * Significant non-core business disposals. Strong trading The Board is pleased to announce that the Group has made good progress in 2007, with trading broadly in line with expectations and showing a marked improvement over the previous period with turnover from continuing activities increasing by 32% to Euro17.1 million (2006: Euro13.0 million). The Board is also pleased to report Expomedia's first positive interim EBITDA - which shows an increase over the previous period. This overall strong performance is a result of the realignment of the business, and recent tactical and complementary acquisitions. The Board anticipates that growth will continue in the second half of 2007, where turnover has historically been heavily weighted; and remains confident that the Group will be profitable in 2007. As highlighted at the time of the Group's March Preliminary Results, the focus was to continue to drive its foothold in India, Russia, Poland, Germany and the UK. All of the Group's core operations have shown improvement: in particular, the growth of Expomedia's Conference Businesses in Russia, Poland and India - up by 74% compared to last year. Positive outlook ahead The Board is highly positive over Expomedia's potential in 2007 and beyond. Forward bookings for 2007 are also encouraging, with current bookings 42% ahead of the same period in 2006. The Group has now created and settled its infrastructure across key markets, and is in a robust position to capitalise on future opportunities in each of Expomedia's territories. Notice of Results The Board announces that it will be releasing its results for the six months ended 30 June 2007, on 24 September 2007, and looks forward to providing shareholders with a more in-depth statement. Mark Shashoua, CEO, commented: "Following the key restructuring decisions made in 2006, to streamline the business, the Group has turned the corner in its development. Proof of this turnaround can be seen in the first six months of 2007, and the Board anticipates that it will continue in the second half of 2007, where we have always been traditionally weighted. "With the addition of acquiring leading branded events in their respective industries Expomedia remains in an ideal position to replicate these into our core markets. "With trading in line with expectations, we look forward to 2007 being a profitable year." -Ends- For further information contact: Expomedia Group Plc Tel: 020 8386 0070 Mark Shashoua, CEO Bishopsgate Communications Ltd Tel: 020 7562 3350 Dominic Barretto Sophie Davis Charles Stanley Securities Tel: 020 7149 6000 Mark Taylor This information is provided by RNS The company news service from the London Stock Exchange END TSTSFUFWFSWSEIW
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