Avesco Group PLC Trading Update (6320S)

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RNS Number : 6320S

Avesco Group PLC

04 December 2012

Avesco Group plc

Trading Update

Avesco Group plc (the "Group"), the provider of services to the corporate presentation, entertainment and broadcast markets, today issues the following trading update ahead of its full year results for the financial year ended 30 September 2012.

The final quarter of the year was, as anticipated, extremely busy for the Group including the successful completion of a significant amount of business relating to the London 2012 Olympics and the Paralympics Games for a variety of clients across all three of our divisions. During the year as a whole, the underlying business has continued to make good progress, with a particularly strong performance from Creative Technology in North America.

The Board have also conducted a strategic review of the Presteigne Charter business which has resulted in a restructure of the projects division and is expected to contribute to greater than envisaged reported operating expenses. Despite this, the directors anticipate that trading profit, before and after net finance costs, for the year ended 30 September 2012 when announced in January 2013, will be ahead of the current market expectations.

Separately, the oral hearing of the appeal by the Walt Disney Company against judgment in the litigation brought by Celador International and in which the Group maintains an interest, took place in October 2012. The Company believes that a decision is likely to follow within the next 12 months.

For further information please contact:

Avesco Group plc 01293 583400

Richard Murray, Chairman

John Christmas, Finance Director

finnCap 020 7220 0500

Ed Frisby/Rose Herbert, Corporate Finance

Brian Patient/Victoria Bates, Corporate Broking

This information is provided by RNS

The company news service from the London Stock Exchange

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