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Aeorema Communications' (LON: AEO) share price has jumped on Tuesday after the company released a trading update.
The live events agency said it made “further multi-national blue-chip client wins” during the year ended 30 June and improved its gross profit margin, which was primarily driven by the ability to bill an increased amount of higher-margin services in the pre-production phase of contracts.
The company continued to return to profitability during the year, although its operating loss for fiscal 2021 is expected to be £230,000.
“The outlook for the start of the new financial year is very strong,” the AIM-quoted firm said.
“H1 2022 revenues are anticipated to be greater than any previous interim period on record,” it added.
During the period, they made a strategic shift to providing consultancy services and engaging with clients at a higher advisory level and Aeorema feels that opportunities are strong in virtual, hybrid and face to face events.
Mike Hale, Chairman of Aeorema, said: “In a period in which the team have worked tirelessly, up-skilling, retraining and refocusing on virtual and hybrid events following a history of purely live events, I believe we have created the perfect platform on which we can capitalise on the changes we have all experienced over the last 18 months, and changes which I believe are largely here to stay.
“We have adapted and are thriving with an increasing amount of client business, from existing and new clients, smaller companies to blue-chip, and our very strong pipeline is testament to the work and advice our team provide.”
The company's shares have jumped 31.5% on Tuesday, trading at 37.6p.
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