News blog
Expomedia
- BY: Andrew Hore |
- POSTED: 10/11/2008 |
Cancellations and poor bookings have hit conference and exhibitions organiser Expomedia in the second half of 2008.
Results will be significantly below expectations and that means Expomedia is likely to slip back into loss in 2008. Cost savings are being made but they won’t have much of an effect on the 2008 figures.
The sale of the company’s German assets has been postponed so it will not get the expected working capital from that source. Expomedia may have to raise cash from a share issue in order to finance its working capital.
The shares slumped 6.5p to 15.5p, valuing Expomedia at £7.8m, so any fund raising will be dilutive.
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