ELE Electric Word

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RNS Number : 2039U

Electric Word PLC

24 December 2012

24 December 2012

Electric Word plc

Year end trading update

Electric Word plc, the specialist information business, today announces the following update for the year ended

30(th) November 2012  ahead of its preliminary results announcement on 14(th)   February 2013. 

Trading is in line with the Board's expectations following the successful fundraising completed in August 2012 and the consequent increase in our programme of investments.

The Sport & Gaming division has seen another successful year with the successful launch of iGaming Business in the USA expected to create further opportunities in 2013. In SportBusiness, higher-value subscriptions and consulting services grew successfully in 2012, offset by weaker advertising and investment in developing new services such as in the sports sponsorship market.

In Education, growth in the Conferences business has continued at the same time as investment in building the new digital schools management support service has been increased. Adoption of the new online service has been on target in 2012 in a market that has shown greater financial stability, although continuing structural and organizational change brings both challenges and opportunities for growth in the medium term.

The Health division has encountered a more turbulent market in 2012 with significant structural reforms that are expected to continue through 2013. As in the Education market, this will create opportunity in the medium term as new organisations are formed and further professional development requirements are introduced. Investment will continue in 2013 as the business evolves and develops.

Overall the Group has made significant progress in developing new services around its evolving online platform and finishes the financial year with no net debt*. We look forward to building on those achievements in 2013.

* Excluding GBP0.4m of contingent consideration

Enquiries:

 
 Julian Turner, Chief Executive, 
  Electric Word                     020 7954 3470 
 
 Andrew Potts, Panmure Gordon       020 7886 2500 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

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