Vision Media Group International | News
30 June 2008 Preliminary Results
Vision Media Group (International) plc (AIM:VMG), the outdoor media contractor, announces its Preliminary Results for the year ended 31 December 2007.
Highlights
- Losses from continuing operations narrow to £4.6 million (2006: £6.1 million)
- Losses after tax narrow to £5.54 million (2006: £7.5 million)
- Revenue of £1.56 million (2006: £1.80 million)
- Commencement of restructuring and repositioning of the Group
Post Year End Highlights
- Completion of acquisition of Screen Media Networks Limited
- Significant contracts secured with Clear Channel Outdoor UK and Merlin Entertainments Group
- Successfully raised in excess of £3 million, before costs, of new capital and loans, with a further £1 million yet to be called down
- Completion of restructuring and repositioning of the Group
Commenting on the results, Mike Cottman, Executive Chairman, said: “After a year in which we changed shape and direction, a new business is now emerging that has a sustainable future and can successfully grow. Vision Media Group is now well positioned to begin to deliver shareholder value for its investors. We have a new strategy in place and a new executive management team to deliver it. We are now on a sound financial footing and can look forward to profitability.”
For further information:
| Vision Media Group (International) plc | |
| Mike Cottman, Executive Chairman | Tel: +44 (0) 203 206 0001 |
| mikec@visionmediagroupplc.com | www.visionmediagroupplc.com |
| Seymour Pierce Limited | |
| Stuart Lane / John Depasquale, Corporate Finance | Tel: +44 (0) 20 7107 8000 |
| stuartlane@seymourpierce.com | www.seymourpierce.com |
| Media enquiries: | |
| Abchurch | |
| Henry Harrison-Topham / Gareth Mead | Tel: +44 (0) 20 7398 7710 |
| gareth.mead@abchurch-group.com | www.abchurch-group.com |