Half-year Results
Record revenue of £20.4m with underlying profit up 41% to £615k; interim dividend of 3p declared.
vs expectations: at the upper end of earlier expectations
- Revenue £20.4 million (prior £20.3 million)
- Underlying profit before taxation £615,000 (prior £437,000)
- Reported profit before taxation £366,000 (prior £437,000)
- Cash at 30 June 2025 £3.1 million (prior £3.1 million)
- Interim dividend 3p per share
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Aeorema Communications plc (AIM: AEO), a leading strategic communications group, is pleased to announce its unaudited interim results for the 12 months ended 30 June 2025. Comparative figures are the audited results for the year ended 30 June 2024 ("FY2024").
Financial Highlights
| • | Record revenue of £20.4 million (FY2024: £20.3 million) |
| • | Underlying profit before taxation of £615,000 (FY2024: £437,000)* |
| • | Reported profit before taxation of £366,000 (FY2024: £437,000), after restructuring costs |
| • | Strong cash position with £3.1 million at 30 June 2025 (30 June 2024: £3.1 million). Average cash balance during the 12 months of £2.1 million |
| • | Interim dividend of 3p per share declared for the 12 months to 30 June 2025 |
| • | Cost reduction and rebalancing programme nearly completed, creating a leaner cost base ahead of FY2026 |
| Operational Highlights | |
| • | Record performance at Cannes Lions 2025, with exceptional project retention, new client wins and unprecedented re-bookings already confirmed for 2026 |
| • | Expanding international presence with new opportunities at CES Las Vegas, the World Economic Forum in Davos, and other major tentpole events |
| • | Industry recognition with multiple awards in the period, including a third consecutive win at the 2025 micebook Awards and Cheerful Twentyfirst being named C&IT Global Agency of the Year 2024 |
| • | Board of Directors strengthened with the appointment of Alan Charlton as a Non-Executive Director |
| Outlook | |
| • | Strong forward visibility, with contracts already signed or in advanced negotiation for 2026 at encouraging levels |
| • | Focus on margin enhancement and efficiency in FY2026, following the completion of the cost reduction and rebalancing programme |
Chairman's Statement
I am pleased to present Aeorema Communications plc's interim results for the twelve months ended 30 June 2025 and to provide an update on the Company's progress during this transitional period.
For the period we delivered record revenue of £20.4 million (FY2024: £20.3 million), with an underlying profit before taxation of £615,000 (FY2024: £437,000) and a reported profit before taxation of £366,000 (FY2024: £437,000). These results, which are at the upper end of earlier expectations, reflect the Group's creative excellence, the strength of our client relationships, and our ability to deliver outstanding live experiences across global markets.
As highlighted in our results for the six months to 31 December 2024 (as announced on 26 March 2025), we had begun to see the early benefits of our cost-reduction and rebalancing programme and noted that our pipeline was weighted towards the second half of the financial year. I am pleased to confirm that this has materialised. The programme optimised operations and established a leaner cost base, positioning the Group to enhance efficiency and profitability in FY2026.
Our cash position remains strong, with a balance of £3.1 million at 30 June 2025 (30 June 2024: £3.1 million) and an average over the 12 months of £2.1 million. This resilience enables us to continue investing in our operations while maintaining our commitment to shareholder returns.
In line with that commitment, the Board has declared an interim dividend of 3 pence per share in respect of the 12 months to 30 June 2025. This maintains our stated policy of rewarding shareholders without waiting until the conclusion of the extended 18-month reporting period ending 31 December 2025. The dividend will be paid on 24 November 2025, with a record date of 31 October 2025 and an ex-dividend date of 30 October 2025.
Operationally, the Group continues to gain significant traction in international markets, reinforcing its reputation as a leader in strategic communications and live experiences. Cannes Lions Festival of Creativity has long been the cornerstone of our creative and delivery capabilities, and 2025 was another year of strong performance, with further growth, client diversification, and strengthened partnerships with global brands and agencies. Most notably, an unprecedented number of client renewals have already been confirmed for 2026. Our consistent excellence at Cannes is also opening doors to other major international events, including the World Economic Forum in Davos, Art Basel Miami, CES in Las Vegas and SXSW Austin, broadening our commercial footprint and creating significant global opportunities for Aeorema.
Our industry leadership has also been recognised during the period, with multiple award wins including a third consecutive micebook Award in 2025 and Cheerful Twentyfirst being named C&IT Global Agency of the Year 2024. These accolades further strengthen our position as a trusted creative partner to leading global brands.
In addition, we strengthened our Board during the period with the appointment of Alan Charlton as a Non-Executive Director. Alan brings a wealth of experience in business strategy, operational performance, cost efficiency, mergers & acquisitions, and shareholder value creation. His insight and guidance will be invaluable as we continue to build a stronger, more resilient Group.
These achievements show a business going from strength to strength, underpinned by clear strategic direction, operational focus, and a consistent reputation for excellence. As a result, we continue to see strong client engagement and sustained demand across our core markets.
Looking ahead, contracts already signed or in advanced negotiation for 2026 are at encouraging levels, giving us visibility well into next year. With restructuring nearing completion and momentum in our markets continuing, we believe we are now in a position to provide guidance for the financial year ending 31 December 2026.
We are set fair to deliver on our ambitions, with positive trading momentum, a strong client base, and a sharpened operating model. While we remain mindful that political uncertainty and potential economic turmoil could impact our clients' investment decisions, our strategy remains focused on ensuring Aeorema delivers sustainable growth, resilience, and creative excellence.
On behalf of the Board, I would like to thank our teams across the Group for their hard work and our shareholders for their continued support.
Mike Hale
Chairman
* The underlying profit is calculated by adding back the restructuring costs, including redundancy and other costs associated with the restructuring during the 12 month period.
AEOREMA COMMUNICATIONS PLC
CONDENSED CONSOLIDATED INCOME STATEMENT
For the period ended 30 June 2025
| Unaudited 12 Months to 30 June 2025 | Audited Year to 30 June 2024 | |||||||
|---|---|---|---|---|---|---|---|---|
| Notes | £ | £ | ||||||
| Continuing Operations | ||||||||
| Revenue | 20,406,298 | 20,288,799 | ||||||
| Cost of sales | (17,039,342) | (16,513,827) | ||||||
| Gross profit | 3,366,956 | 3,774,972 | ||||||
| Administrative expenses | (3,017,619) | (3,334,224) | ||||||
| Operating profit / (loss) | 349,337 | 440,748 | ||||||
| Finance income | 45,887 | 35,967 | ||||||
| Finance costs | (29,191) | (39,787) | ||||||
| Profit / (loss) before taxation | 366,033 | 436,928 | ||||||
| Taxation | 4 | (127,914) | (140,221) | |||||
| Profit / (loss) for the period from continuing operations | 238,119 | 296,707 | ||||||
| Other comprehensive income | ||||||||
| Items that may be reclassified to profit or loss | ||||||||
| Exchange differences on translation of foreign entities | (127,979) | (88,632) | ||||||
| Other comprehensive income for the period | (127,979) | (88,632) | ||||||
| Total comprehensive income for the period | 110,140 | 208,075 | ||||||
| Basic and diluted earnings per share from continuing operations | ||||||||
| Basic (pence) | 5 | 2.47 | 3.18 | |||||
| Diluted (pence) | 5 | 2.20 | 2.69 | |||||
| AEOREMA COMMUNICATIONS PLC | ||||||||
| CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION | ||||||||
| For the period ended 30 June 2025 | ||||||||
| Unaudited 12 Months to 30 June 2025 | Audited Year to 30 June 2024 | |||||||
| £ | £ | |||||||
| Non-current assets | ||||||||
| Intangible assets | 564,348 | 564,348 | ||||||
| Property, plant and equipment | 351,546 | 344,827 | ||||||
| Right-to-use assets | 443,378 | 570,182 | ||||||
| Deferred taxation | - | - | ||||||
| 1,359,272 | 1,479,357 | |||||||
| Current assets | ||||||||
| Trade and other receivables | 6,288,111 | 4,422,020 | ||||||
| Corporation tax receivable | 81,189 | - | ||||||
| Cash and cash equivalents | 3,101,576 | 3,119,353 | ||||||
| 9,470,876 | 7,541,373 | |||||||
| Total assets | 10,830,148 | 9,020,730 | ||||||
| Current liabilities | ||||||||
| Trade and other payables | 7,359,907 | 5,371,049 | ||||||
| Lease liabilities | 119,661 | 113,201 | ||||||
| Bank loans | - | 27,778 | ||||||
| Current tax payable | - | 118,973 | ||||||
| Provisions | 35,000 | 35,000 | ||||||
| 7,514,568 | 5,666,001 | |||||||
| Non-current liabilities | ||||||||
| Lease liabilities | 381,091 | 500,814 | ||||||
| Provisions | 31,500 | 22,500 | ||||||
| Deferred taxation | 185,735 | 25,690 | ||||||
| 598,326 | 549,004 | |||||||
| Total liabilities | 8,112,894 | 6,215,005 | ||||||
| Net assets | 2,717,254 | 2,805,725 | ||||||
| Equity attributable to equity holder: | ||||||||
| Share capital | 1,211,625 | 1,192,250 | ||||||
| Share premium | 47,451 | 21,876 | ||||||
| Merger reserve | 16,650 | 16,650 | ||||||
| Other reserve | 350,038 | 302,809 | ||||||
| Capital redemption reserve | 257,812 | 257,812 | ||||||
| Foreign translation reserve | (304,855) | (176,876) | ||||||
| Retained earnings | 1,138,533 | 1,191,204 | ||||||
| Total equity | 2,717,254 | 2,805,725 | ||||||
| AEOREMA COMMUNICATIONS PLC | ||||||||
| CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY | ||||||||
| For the period ended 30 June 2025 | ||||||||
| Share capital | Share premium | Merger reserve | Other reserve | Capital redemption reserve | Foreign translation reserve | Retained earnings | Total equity | |
| £ | £ | £ | £ | £ | £ | £ | £ | |
| At 1 July 2023 | 1,192,250 | 21,876 | 16,650 | 233,375 | 257,812 | (88,244) | 1,180,637 | 2,814,356 |
| Comprehensive income for the period | - | - | - | - | - | - | 296,707 | 296,707 |
| Dividend paid | (286,140) | (286,140) | ||||||
| Foreign currency translation | - | - | - | - | - | (88,632) | - | (88,632) |
| Share-based payments | - | - | - | 69,434 | - | - | - | 69,434 |
| At 30 June 2024 | 1,192,250 | 21,876 | 16,650 | 302,809 | 257,812 | (176,876) | 1,191,204 | 2,805,725 |
| At 1 July 2024 | 1,192,250 | 21,876 | 16,650 | 302,809 | 257,812 | (176,876) | 1,191,204 | 2,805,725 |
| Comprehensive income for the period | - | - | - | - | - | - | 238,119 | 238,119 |
| Dividend | - | - | - | - | - | - | (290,790) | (290,790) |
| Foreign currency translation | - | - | - | - | - | (127,979) | - | (127,979) |
| Share-based payments | - | - | - | 47,229 | - | - | - | 47,229 |
| Share issue | 19,375 | 25,575 | - | - | - | - | - | 44,950 |
| At 30 June 2025 | 1,211,625 | 47,451 | 16,650 | 350,038 | 257,812 | (304,855) | 1,138,533 | 2,717,254 |
| AEOREMA COMMUNICATIONS PLC | ||||||||
| CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS | ||||||||
| For the period ended 30 June 2025 | ||||||||
| Unaudited 12 Months to 30 June 2025 | Audited Year to 30 June 2024 | |||||||
| £ | £ | |||||||
| Cash flow from operating activities | ||||||||
| (Loss) / profit before taxation | 366,033 | 436,928 | ||||||
| Adjustments for: | ||||||||
| Depreciation of property, plant and equipment | 116,305 | 137,105 | ||||||
| Depreciation of right-of-use assets | 126,804 | 126,804 | ||||||
| Amortisation of intangible fixed assets | - | 2,083 | ||||||
| Loss on disposal of fixed assets | - | 1,288 | ||||||
| Share-based payment | 47,229 | 69,434 | ||||||
| Interest on lease liabilities | 28,737 | 34,264 | ||||||
| Finance income | (45,887) | (35,967) | ||||||
| Dilapidations | 9,000 | 9,000 | ||||||
| Exchange rate differences on translation | (127,979) | (88,632) | ||||||
| Operating cash flow before movement in working capital | 520,242 | 692,307 | ||||||
| Increase/(decrease) in trade and other payables | 1,988,858 | 1,488,111 | ||||||
| (Increase)/decrease in trade and other receivables | (1,866,091) | (919,497) | ||||||
| Cash generated / (used in) from operating activities | 643,009 | 1,260,921 | ||||||
| Taxation paid | (168,031) | (55,451) | ||||||
| Cash flow from investing activities | ||||||||
| Finance income | 45,887 | 35,967 | ||||||
| Purchase of property, plant and equipment | (123,024) | (54,711) | ||||||
| Repayment of leasing liabilities | (142,000) | (142,000) | ||||||
| Net cash used in investing activities | (219,137) | (160,744) | ||||||
| Cash flow from financing activities | ||||||||
| Share issue | 44,950 | - | ||||||
| Dividends paid to owners of the company | (290,790) | (286,140) | ||||||
| Repayment of bank loans | (27,778) | (83,333) | ||||||
| Net cash used in financing activities | (273,618) | (369,473) | ||||||
| Net (decrease) / increase in cash and cash equivalents | (17,777) | 675,253 | ||||||
| Cash and cash equivalents at beginning of period | 3,119,353 | 2,444,100 | ||||||
| Cash and cash equivalents at end of period | 3,101,576 | 3,119,353 | ||||||
AEOREMA COMMUNICATIONS PLC
NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS
For the period ended 30 June 2025
General information
These condensed consolidated interim financial statements for the 12 month period ending 30 June 2025 (including comparatives for the year ended 30 June 2024) were approved by the board of directors on 17 September 2025.
The financial information set out in this interim report does not constitute statutory accounts for the purposes of section 434 of the Companies Act (2006). The Group's statutory financial statements for the year ended 30 June 2024, prepared under International Financial Reporting Standards (IFRS), have been filed with the Registrar of Companies. The auditor's report for those financial statements was unqualified and did not contain a statement under section 498 (2) or section 498 (3) of the Companies Act (2006).
Copies of the annual statutory financial statements and the interim report can be found on our website at www.aeorema.com.
Basis of preparation
These condensed consolidated interim financial statements for the 12 month period ended 30 June 2025 have been prepared in accordance with IAS 34, 'Interim Financial Reporting' as adopted by the United Kingdom. The interim condensed consolidated financial statements should be read in conjunction with the annual financial statements for the year ended 30 June 2024, which have been prepared in accordance with IFRS as adopted by the United Kingdom.
Revenue and segmental results
The Company uses several factors in identifying and analysing reportable segments, including the basis of organisation such as differences in products and geographical areas. The Board of Directors, being the chief operating decision makers, has determined that for the 12 month period ended 30 June 2025 there is only one reportable operating segment.
- Income tax charge
- Earnings per share
The following reflects the income and share data used and dilutive earnings per share computations:
| Unaudited 12 Months to 30 June 2025 | Audited Year to 30 June 2024 | |
|---|---|---|
| Profit / (loss) for the year attributable to owners of the Company | £238,119 | £296,707 |
| Number of shares | ||
| Basic weighted average number of shares | 9,628,417 | 9,538,000 |
| Effect of dilutive share options | 1,215,000 | 1,493,000 |
| Diluted weighted average number of shares | 10,843,417 | 11,031,000 |
Dividends
During the interim period a dividend of 3 pence per share (2024: 3 pence per share) was declared and paid to holders of the Company's ordinary shares in respect of the full year ended 30 June 2024.
Related party transactions
| Unaudited 12 months to 30 June 2025 | Audited Year to 30 June 2024 | |
|---|---|---|
| £ | £ | |
| Subsidiaries | ||
| Amounts owed by/(to) subsidiaries | 747,404 | 744,072 |
| Amounts owed by/(to) subsidiaries | 747,404 | 744,072 |
Harris & Trotter LLP is a firm in which S Haffner is a member. The following was charged to the Group in respect of professional services.
| Unaudited 12 months to 30 June 2025 | Audited Year to 30 June 2024 | |
|---|---|---|
| Harris & Trotter LLP | £ | £ |
| Aeorema Communications plc | 11,154 | 20,000 |
| Aeorema Limited | 12,200 | 14,400 |
| 23,354 | 34,400 |
Fees charged to Aeorema Communications plc include £11,154 (2024: £20,000) for the services of S Haffner as a non-executive director of that company. S Haffner resigned as a non-executive director of Aeorema Communications plc on 21 January 2025.
The compensation of key management (including directors) of the Group is as follows:
| Unaudited 12 months to 30 June 2025 | Audited Year to 30 June 2024 | |
|---|---|---|
| £ | £ | |
| Short-term employee benefits | 406,359 | 482,718 |
| Post-employment benefits | 18,000 | 18,000 |
| 424,359 | 500,718 |
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