Stock Market News
Ascential sees FY in line despite tough times for Cannes Lions
Ascential, which is selling its events unit to sector peer ITE Group for £300m, said the group was trading in line with expectations for the full year.
In a trading statement, the company said its our strategy to become a leading specialist information company continued to deliver overall strong revenue and profit growth.
"Strong performances across our digital information subscription brands and continued demand from the global fintech payments industry for our Money20/20 platform are driving this performance," Ascential said.
It added that Money20/20 had delivered a "particularly strong first half, outperforming on both the launch of the Asian edition in Singapore and the European edition that took place this week in Amsterdam".
However, it warned its Cannes Lions division was experiencing a more challenging trading environment with a lower than expected level of spend by advertising agency holding companies.
"Realigning Cannes Lions' revenues to have a strong digital component is a core part of our plans and we are pleased with its digital product growth," Ascential said, but added that this would not offset the lower level of spend from the advertising agency holding companies on Cannes Lions more generally.
In a trading statement, the company said its our strategy to become a leading specialist information company continued to deliver overall strong revenue and profit growth.
"Strong performances across our digital information subscription brands and continued demand from the global fintech payments industry for our Money20/20 platform are driving this performance," Ascential said.
It added that Money20/20 had delivered a "particularly strong first half, outperforming on both the launch of the Asian edition in Singapore and the European edition that took place this week in Amsterdam".
However, it warned its Cannes Lions division was experiencing a more challenging trading environment with a lower than expected level of spend by advertising agency holding companies.
"Realigning Cannes Lions' revenues to have a strong digital component is a core part of our plans and we are pleased with its digital product growth," Ascential said, but added that this would not offset the lower level of spend from the advertising agency holding companies on Cannes Lions more generally.
Related share prices |
---|
Stock News headlines are gathered from financial news sources around the web. Views and opinions on each item are from their respective authors and website. They are not opinions of LiveCharts.co.uk
Get a free widget for your website with our latest headlines.
You can now add our live prices and new headlines to your website.The news widget features quotes for Oil prices, spot Gold price and Indices plus a choice of news channel for healines.
Top Shares pages
- Share price quotes
- Share charts
- Share watch list
- Company Results Calendar
- Top Large UK Shares
- UK Market Sectors
- Stock market news
- Company news
- Share tips
- A-Z company search
More share features
POPULAR Share Prices
- Royal Mail share price
- Lloyds share price
- HSBC share price
- Barclays share price
- Prudential share price
- Santander share price
- NEXT share price
- Diageo share price
- BP share price
- Vodafone share price
- British Airways
- Centrica share price
- Tesco share price
- Taylor Wimpey Share Price
- National Grid
- GKP Share Price
- Marks and Spencer
- Rolls Royce
- Rio Tinto
- THG Share Price
- Aviva Share Price
- Boil Share price
- Easyjet Share Price
- Genedrive Share Price
- SSE Share Price
- IAG Share Price
- Boohoo share price
- HE1 share price
- AVCT share price
- BOOM share price