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Market Movers: Immotion soars on upbeat trading update

Published Aug 18, 2022 12:15 Updated Aug 18, 2022 12:43
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© Reuters Market Movers: Immotion soars on upbeat trading update
 
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Immotion Group PLC (AIM:IMMO), the UK-based immersive entertainment group, gave an upbeat update on trading today sending shares up by 9.23%.

The group said revenue at the group's core Location Based Entertainment business had almost doubled in the first half of 2022 to £4.4mln from £2.3mln in 2021, with trading in the division very strong in the key summer period.

Martin Higginson, CEO of Immotion, commented: "The first six months of the year have shown solid year-on-year improvement and, with July exceeding all previous revenue numbers, the summer trading period is looking very encouraging.”

Aeorema surges on raised guidaance

Shares in Aeorema Comms PLC surged 15% after the AIM-listed live events agency raised full year revenue and pre-tax profits guidance.

The group said it now expects to report full year 2022 revenues of £12.2mln, ahead of previous guidance of £11.8mln and pre-tax profits of no less than £0.8mln, £0.1mln higher than previously estimated.

Aeorema said results were lifted by “the sheer scale of work in the final weeks of the financial year primarily at Cannes Lions.”

The group also announced it had opened a new office in Amsterdam.

Steve Quah, chief executive officer of Aeorema, commented: “new business opportunities in mainland Europe and particularly in the Netherlands are growing quickly and as a result we are delighted to have opened a new office in Amsterdam.”

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Market Movers: Immotion soars on upbeat trading update
 

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