StockMarketWire.com - Media and entertainment firm Reach4entertainment Enterprises said a strong second-half performance had returned the company to full-year profit, and that it was positioned for further growth in 2013.

It said 2012 was a highly productive year, with substantial trading and corporate development progress achieved. The company had also benefitted financially from the impact of its restructuring activities previously carried out.

"As indicated at the time of the Company's interim results announced in September 2012, a strong financial performance in the second half of the year has ensured that r4e will report a profit for the year ended 31 December 2012," it said in a statement.

R4E said its theatre marketing business, Dewynters, produced a healthy performance in 2012, driven by a combination of continued collaborative success with long-term clients and new projects, augmented by a strong performance from Newman Displays, r4e's London based signage and fascia business.

SpotCo, r4e's New York based theatre marketing business, was impacted by a weaker than expected slate of new show openings, resulting in reduced revenue on a year-on-year basis. However, as a result of increased operational efficiencies and tightened cost control it made a positive contribution to the Group result.

Looking forward, r4e said:

"The Directors of the Company are confident that r4e will continue to make progress throughout the course of the current financial year.

"SpotCo has secured a strong slate of new shows for 2013, including Amazing Grace, Big Fish, Breakfast at Tiffany's, Cat on a Hot Tin Roof, Cinderella, Kinky Boots, Motown andThe Bodyguard, which should ensure improved performance from the division in 2013.

"Similarly, Dewynters has a solid slate of new shows, such as The Book of Mormon, Charlie and the Chocolate Factory, From Here to Eternity, The Audience and The Quartermaine's Terms, and is well placed to demonstrate progress throughout the year."


At 8:43am: (LON:R4E) share price was +0.63p at 6.13p



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