Trading Update (9316K)
July 25 2011 - 2:00AM
UK Regulatory
TIDMBOOM
RNS Number : 9316K
Boomerang Plus PLC
25 July 2011
25 July 2011
Boomerang Plus plc
('Boomerang' or 'the Group')
Trading update
Boomerang Plus plc (AIM: BOOM.L), a profitable media investment
group, announces an update on trading ahead of the publication of
its preliminary results for the year to 31 May 2011.
In its interim results announcement released on 24 February
2011, the Group highlighted that trading in the current financial
year ending 31 May 2011 was expected to be considerably first half
weighted. However, the Group has had a busier than anticipated
second half with organic growth both in network and AFP
programming, together with the acquisition of Indus, all
contributing to further growth in turnover and profits.
The Group's financial position remains strong with significant
positive net cash reserves. The Group's success in securing new
contracts, track-record on recommissions, the recent acquisition of
Oxford Scientific, the investment into Harlequin Talent Agency,
together with further growth in AFP programming, has contributed to
a strong start to the new financial year.
The Group expects to announce its preliminary results in the
latter half of September 2011.
Huw Eurig Davies, Chief Executive Officer of Boomerang,
commented:
"Boomerang's encouraging momentum continues, with strong revenue
performance during the period and good visibility over future
revenues. Organic growth, particularly in AFP, the recent
acquisition of Oxford Scientific Films and investment into
Harlequin Talent Agency have all contributed to diversifying the
Group's customer base and widening its intellectual property base.
We continue to look for additional acquisitions to complement our
existing businesses."
Contacts:
Boomerang Plus plc Tel : 029 2055 0550
Huw Eurig Davies, Chief Executive
Officer
Mark Fenwick, Finance Director Tel: 020 7600 1658
finnCap Limited
Geoff Nash/ Charlotte Stranner
Simon Starr/ Victoria Bates (broking)
Walbrook PR Ltd Tel: +44 (0)20 7933 8780
Paul McManus paul.mcmanus@walbrookpr.com
Paul Cornelius paul.cornelius@walbrookpr.com
About Boomerang Plus plc (www.boomerang.co.uk)
Boomerang Plus plc has strategic investments in a number of
media businesses including production companies Alfresco, Apollo,
Boomerang, Bulb, Fflic, Indus, and Oxford Scientific Films;
Facilities companies Mwnci and Zoom; multi-media publisher Boom
Extreme Publishing; talent companies Harlequin and Boom Talent;
Event company Big Freeze Limited, and Education and corporate
production business Media4.
Boomerang Plus's strategy is to continue to acquire and invest
in and develop media companies that complement the Group's existing
businesses, whilst also achieving strong organic growth.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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