In an update for 1H22, the live events agency Aeorema Communications (AEO ) said it has benefited ‘significantly’ from a strong performance from its US office which opened in 2020.
Aeorema informed investors this morning that its office continues to grow and win new U.S. based clients to complement the Company’s existing multi-national blue-chip client base.
Moreover, the company acknowledged that its shift since 2020 into providing virtual online conferences and events has experienced ‘high levels of demand’ and that the provision of consultancy services has further enhanced the business’ overall performance for the period.
As a result, Aeorema said it now expects to report revenues of no less than £4.9 million for 1H22, up from £1.67m reported in 1H21 and exceeding the previously reported revenue expectation of £4.5 million for the period as previously announced on 14 December 2021.
Shares in Aeorema Communications were trading 4.90% higher at 75p following the news.
Due to its ‘record’ performance, the company now expects profits before tax for the period to be no less than £0.235m, representing the firm’s first profitable first half in a number of years.
Addressing shareholders, Aeorema said its prospects for the second half of 2022 remain ‘favourable’ and the Company is confident that it will continue this trajectory into 2H22.
Steve Quah, CEO of Aeorema commented: “I am delighted to report our best performance yet during the first half of this financial year, far exceeding our expectations for the period.”
He said the performance in 2H22 was “especially positive to see following the transitional period for the Company last year”, with Aeorema opening its first office in New York, as well as the expansion of the company’s offering to to include consultancy services to its clients.
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