TIDMAEO
RNS Number : 0010N
Aeorema Communications Plc
26 January 2016
Aeorema Communications plc / Index: AIM / Epic: AEO / Sector:
Media
26 January 2016
Aeorema Communications plc ('Aeorema' or 'the Company')
Interim Results
Aeorema Communications plc, the AIM-traded live events agency,
announces its results for the six months ended 31 December
2015.
Overview
-- Pre-tax profits of GBP80,476 on a turnover of GBP1,591,114
-- Stronger second half anticipated, consistent with previous years
-- Robust cash position of GBP1,372,589
Chairman's Statement
As a provider of live events, we continue to focus on developing
a strong pipeline of future revenue opportunities, whilst improving
operational efficiency under a single brand, Cheerful
Twentyfirst.
As we stated in our Annual Accounts, the marketplace remains
competitive and the results for the first six months of the current
trading year reflect this environment. Notwithstanding this, given
the market position of the Cheerful Twentyfirst brand, we continue
to believe that the second half of the year to 30 June 2016 should
be stronger than the first half. The efforts of our management
teams continue to be directed to delivering the pipeline of
opportunities that the Company currently has for the second
half.
Our strategy has been to focus on what is within our power to
manage or influence and to create a resilient company that is well
positioned for growth once the economy inevitably picks up again.
We are therefore keeping costs down, and doing what we do best:
innovate. This has been the lifeblood of the Company since its
inception 20 years ago and is the reason business and industry
leaders turn to us.
We are pleased to be working with some new clients but existing
clients have, in some cases, lowered budgets or cancelled events.
The new website is opening up opportunities and we are embracing
social media as a marketing tool, with good results.
We have a robust balance sheet with GBP1,372,589 cash in the
bank and revenue generation of GBP1,591,114. During the six months
we achieved a pre-tax profit of GBP80,476. Operational costs were
GBP715,202.
Overall, the team deserve our thanks for their achievements
during a tough period. We are encouraged both by our business
opportunities and the start we have made to the current year but,
given the economic environment, we remain cautious in respect of
profit growth.
M Hale
Chairman
25 January 2016
AEOREMA COMMUNICATIONS PLC
CONDENSED CONSOLIDATED INCOME STATEMENT
For the period ended 31 December 2015
Unaudited Unaudited Audited
6 Months 6 Months Year
to 31 to 31 to
December December 30 June
2015 2014 2015
Notes GBP GBP GBP
Continuing Operations
Revenue 1,591,114 1,658,315 4,934,560
Cost of sales (795,832) (855,113) (3,017,634)
Gross profit 795,282 803,202 1,916,926
Administrative expenses (715,202) (702,238) (1,534,471)
Operating profit 80,080 100,964 382,455
Finance income 396 352 761
Profit before taxation 80,476 101,316 383,216
Taxation 5 (16,565) (6,664) (67,979)
Profit for the period
from continuing operations 63,911 94,652 315,237
Basic and diluted earnings
per share from continuing
operations
Basic (pence) 6 0.70616 1.06751 3.51904
Diluted (pence) 6 0.68350 1.01227 3.37134
========== ========== ============
There are no other comprehensive income items
AEOREMA COMMUNICATIONS PLC
CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION
For the period ended 31 December 2015
Unaudited Unaudited Audited
6 Months 6 Months Year
to 31 to 31 to
December December 30 June
2015 2014 2015
GBP GBP GBP
Non-current assets
Intangible assets 365,154 365,154 365,154
Property, plant and
equipment 99,560 57,008 65,135
Deferred taxation - 17,481 6,404
464,714 439,643 436,693
Current assets
Inventories - 2,674 -
Trade and other receivables 747,770 939,962 1,352,398
Cash and cash equivalents 1,372,589 1,219,527 1,558,453
---------- ---------- ------------
2,120,359 2,162,163 2,910,851
Total assets 2,585,073 2,601,806 3,347,544
========== ========== ============
Current liabilities
Trade and other payables (896,868) (945,796) (1,463,504)
---------- ---------- ------------
(896,868) (945,796) (1,463,504)
Non-current liabilities
Deferred taxation (4,322) - -
---------- ---------- ------------
(4,322) - -
Net assets 1,683,883 1,656,010 1,884,040
========== ========== ============
Equity attributable
to equity holder:
Share capital 1,131,313 1,131,313 1,131,313
Share premium 7,063 7,063 7,063
Merger reserve 16,650 16,650 16,650
Share based payment - 118,411 -
reserve
Capital contribution
reserve 257,812 257,812 257,812
Retained earnings 271,045 124,761 471,202
Total equity 1,683,883 1,656,010 1,884,040
========== ========== ============
AEOREMA COMMUNICATIONS PLC
CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY
For the period ended 31 December 2015
Share Share Merger Other Share-based Capital Retained Total
capital Premium reserve reserve payment contribution earnings equity
reserve reserve
GBP GBP GBP GBP GBP GBP GBP GBP
At 1 July
2014 1,079,688 - 16,650 19,500 110,972 257,812 482,609 1,967,231
Issue
of shares 51,625 7,063 - (19,500) - - - 39,188
Payment
of dividends - - - - - (452,500) (452,500)
Comprehensive
income
for the
period - - - - - 94,652 94,652
Share
based
payment - - - 7,439 - - 7,439
At 31
December
2014 1,131,313 7,063 16,650 - 118,411 257,812 124,761 1,656,010
At 1 January
2015 1,131,313 7,063 16,650 - 118,411 257,812 124,761 1,656,010
Comprehensive
income
for the
period - - - - - - 220,585 220,585
Share
based
payment - - - - 7,445 - - 7,445
Transfer - - - - (125,856) - 125,856 -
At 30
June 2015 1,131,313 7,063 16,650 - - 257,812 471,202 1,884,040
At 1 July
2015 1,131,313 7,063 16,650 - - 257,812 471,202 1,884,040
Payment
of dividends - - - - - - (271,515) (271,515)
Comprehensive
income
for the
period - - - - - - 63,911 63,911
Share
based
payment - - - - - - 7,447 7,447
At 31
December
2015 1,131,313 7,063 16,650 - - 257,812 271,045 1,683,883
AEOREMA COMMUNICATIONS PLC
CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS
January 26, 2016 05:00 ET (10:00 GMT)
Isabel de Salis/Megan Dennison St Brides Partners Tel: 020 7236
1177
This information is provided by RNS
The company news service from the London Stock Exchange
END
IR AKADPCBKKODB
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January 26, 2016 05:00 ET (10:00 GMT)
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