SPM Spg Media

RNS Number:1462L
SPG Media Group Plc
18 April 2005




                            SPG MEDIA GROUP PLC ("SPG")


                                 TRADING STATEMENT



SPG Media Group PLC, a business to business international media company with
interests in publishing, internet, conference and events announces the
appointment of a new Chairman, its intention to move to AIM and its latest
trading update.



Group Structure:

The Group had combined the roles of Chairman and Chief Executive from April 2004
in order to stabilize and integrate the various business interests of the Group.



Over a relatively short period of time we have recruited a new, experienced and
knowledgeable board, strengthened the executive team and driven through the
necessary changes to reduce costs, invest in technology and product development
underpinning the rollout of the planned strategy.



The structural and operational changes are virtually complete and the Group is
well positioned having no debt, a strong cash flow and costs firmly under
control.



The role of Executive Chairman is an anomaly in an increasingly regulated market
and the time is now right to split the role into a more traditional
non-executive Chairman and Chief Executive structure.



The Group confirmed that Stephen Davidson, who joined the board in March 2004,
would take over responsibilities as chairman with effect from 18 April 2005 with
Steve Nicholson, current Executive Chairman, moving to Chief Executive.



Steve Nicholson confirmed the decision provides him with the opportunity to
focus more on the day-to-day issues of running the Group at a time when an
increasing number of opportunities are presenting themselves to the Group.



"I am delighted that Stephen has accepted the position of Chairman and very much
look forward to benefiting further from his advice and overall insight across a
wide range of matters reflecting Stephen's depth and breadth of expertise
accumulated over the many years in high profile city and PLC positions.



AIM:

The board plans to move the Group from the official list of the London Stock
Exchange to AIM in mid 2005.



In view of the Company's size and market capitalisation, it makes more sense to
trade on AIM where the Group will incur less administrative overhead and
potentially attract greater investment interest given the advantageous taxation
benefits for many investors.



Trading Update:

The trading position of the Group is broadly in line with the market's overall
expectations prior to net exceptional items of which the largest item is the
treatment of vacant premises, which will be provisioned, for 3 years, as a one
off exceptional charge.



The group has approximately 30,000 sq feet of premises, surplus to requirements,
of which 13,000 sq. feet are currently sublet.  The board plans to fully
provision all vacant premises under IFRS 12 culminating in a one off exceptional
charge of approaching #2.5 million.



These premises will continue to be aggressively marketed with all efforts being
made to sublet or terminate leases as soon as possible.



Group revenues are marginally below market expectation, off set by lower
operational costs, which include substantial investments in the expansion of the
Indian operations, technology and product development.



Pre exceptional results are generally in line with expectations with exceptional
restructuring costs being offset by the exceptional gain on the sale of
Debrett's.



The board has substantially reduced its exposure to the publishing business,
which operates in a difficult trading environment.




"The group had many publications without critical mass or complimentary
conferences, web or forum products, resulting in too many sales people across
too many sectors who deliver a poor profit contribution.  We have structured
future developments and investments around profitable publications in the
markets where the Group already has web, conference or forum products which
enables the Group to cross market and sell with less sales people leading to a
greater profit contribution".



The board remains committed to the strategy of building a profitable world-class
international media company remaining cautiously optimistic in the context of
the early trading indications in the new financial year.



ENDS



For Further Enquiries:



SPG Media Group PLC:                         Tel: +44 (0) 207 915 9600

Steve Nicholson, Chief Executive:            Tel: +44 (0) 207 915 9685

Barrie Newton, Rowan Dartington              Tel: +44 (0) 117 933 0011


                      This information is provided by RNS
            The company news service from the London Stock Exchange
END

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