TIDMR4E
RNS Number : 0366K
Reach4Entertainment Enterprises PLC
20 June 2014
20 June 2014
reach4entertainment enterprises plc
('r4e' or 'the Group')
Trading Update
r4e, the transatlantic media and entertainment marketing
company, today provides an update on trading for the five months to
31 May 2014.
Trading Update
The Group has enjoyed a strong start to trading in the current
financial year and is confident of meeting market expectations for
the full year.
Historically, r4e's financial performance has been weighted
towards the second half of the year, which includes the peak summer
and year-end theatre seasons. However, primarily due to a very
strong performance from Spot & Company of Manhattan Inc.
('SpotCo'), the Group's New York based theatre and live
entertainment business, it is expected that trading in the current
financial year will be more equally balanced between half year
periods.
SpotCo continues to benefit from buoyant market conditions on
Broadway, with performance supplemented through the delivery of a
number of significant, one-off projects. Long running shows include
Chicago, Kinky Boots, the annual Radio City Christmas Spectacular
and Motown the Musical. SpotCo also launched, for the 7(th)
consecutive year the Tony award winning musical which, for 2014,
was A Gentleman's Guide to Love and Murder. The breadth of clients
continues to grow with the addition of the Lincoln Center Theatre
and there is a strong slate of upcoming new shows launched for
opening later in the year.
London based Dewynters Ltd ('Dewynters') has delivered a solid
performance, despite the cancellation of a number of shows. As the
market leader, it continues to work with a substantial number of
successful, long-running West End shows which include The
Bodyguard, The Book of Mormon, Les Miserables, Mamma Mia!, Charlie
and the Chocolate Factory and Wicked which provides security and
visibility of earnings. New openings in 2014 thus far have included
Miss Saigon, Skylight and I Can't Sing with other new shows which
will open later in the year already launched. Non West-End related
work continues to grow with design work across Europe for
theatrical and musical projects whilst the Touring Division, which
was established just over two years ago to provide marketing
services to touring productions of theatre and other live events,
continues to expand in the UK and Europe.
Newman Displays' ('Newmans'), the Group's signage and fascia
business, performance remains robust, albeit affected by the move
by a major central London cinema to digitalise its external
advertising hoardings.
Stage17, the digital platform that delivers a range of Broadway
and arts related entertainment content in which r4e holds a 17 per
cent stake, continues to progress as expected, with the site
(http://www.stage17.tv/) formally launching earlier this year.
David Stoller, Executive Chairman, r4e, said:
"I have been pleased with the Group's strong start to the year
and am confident of it meeting expectations for the full year. Our
New York operations have been the highlight so far, performing
strongly at a time of robust spending on Broadway, with an
encouraging book of new business boding well for the rest of the
financial year.
"Both SpotCo and Dewynters continue to seek to expand their
customer offering and client base in order to secure future growth
opportunities, and I am confident of reporting further progress on
this throughout the year."
ENDS
Enquiries:
reach4entertainment +44 (0) 20 7968 1655
David Stoller, Executive Chairman
Sarah Hall, Chief Operating Officer
Blytheweigh +44 (0) 20 7138 3204
Paul Weigh +44 (0) 7989 129658
Eleanor Parry +44 (0) 7551 293620
Cantor Fitzgerald Europe +44 (0) 20 7894 7000
Mark Percy (Corporate Finance)
David Banks / Paul Jewell (Corporate Broking)
Allenby Capital +44 (0) 20 3328 5656
Katrina Perez/Kelly Gardiner
Notes to Editors:
reach4entertainment enterprises plc ('r4e') is a collection of
branding, marketing, design and advertising agencies that focus
primarily on the theatre, film and live entertainment
industries.
r4e's three principal operating divisions are Dewynters Ltd
('Dewynters'), Spot and Company of Manhattan Inc ('SpotCo') and
Newman Displays Limited ('Newmans').
Dewynters, which was founded in 1876, is based in London and is
a market leader in live entertainment marketing, branding and
advertising campaigns.
SpotCo, founded in 1996, is based in New York and is a leading
arts and live entertainment advertising and marketing agencies,
producing a range of interactive, environmental and print
campaigns.
Newmans was founded in 1988 and is the UK's leading large scale
outdoor signage, front of house, marquee display and installation
company. Clients include major West End theatre productions,
leading film companies, cinemas and major global events.
The company is listed on AIM (AIM: R4E).
This information is provided by RNS
The company news service from the London Stock Exchange
END
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