Aeorema reports record first-half revenue, profit before tax

Aeorema Communications reported record-breaking revenue in its interim results on Wednesday, of £7.12m for the six months ended 31 December, up from £4.91m a year earlier.

The AIM-traded firm also reported a record profit before tax of £0.33m, rising from £0.26m in the first half of 2021.

During the period, the company saw continued growth and major investments, with Eventful returning to profitability.

Additionally, it reported a substantially increased cash position, with a reported £3.68m at the end of the half-year, up from £1.53m year-on-year.

“We are very confident about the outlook for the remainder of the 2023 financial year,” said chairman Mike Hale.

“We have more significant projects at Cannes this year than ever before.”

Hale said the investment the company had made in strengthening its team and resources was “a significant factor” in the growth achieved, providing us with the structure to achieve significant revenue growth going forward.

“We are also confident that we can maintain our policy of paying a dividend to shareholders without limiting our growth opportunities.”

At 1341 BST, shares in Aeorema Communications were up 0.33% at 68.15p.

Reporting by Josh White for Sharecast.com.