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Aeorema Communications swings to loss on event disruptions, cancellations
StockMarketWire.com
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Live events agency, Aeorema Communications swung to a loss for the year as it was forced to delay or cancel a number of live events owing to the impact of the pandemic.
For the year ended 30 June 2020, the company reported a pre-tax loss of £217,924 compared with a profit of £382,244 a year earlier, as revenue fell to £5.5 million from £6.8 million.
Post year-end, the company said its acquisition of Eventful, a provider venue sourcing, strategic event planning and management and incentive travel services, had boosted performance.
Eventful posted a pre-tax profit of £11,223 for the 3 month period post-acquisition, the company said.
Looking ahead, the company said it was 'optimistic that the momentum already seen in Q1 2020-2021 reflects continued positive growth ahead for both operating businesses.'
At 8:16am: (LON:AEO) Aeorema Communications share price was -1p at 20p
Story provided by StockMarketWire.com
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