StockMarketWire.com - Reach4entertainment's H1 pretax profit has tumbled to £52,000, against a prior-same period profit of £0.71m. Revenue was £42.5m, from £41.5m. Exceptional administrative expenses totalled £0.26m, from £9,000, and administrative expenses totalled £9.7m, from £9.9m.

Chairman David Stoller said 2014 was an "exceptional year for the theatre market and 2015 is proving to be a solid if more 'normal' market environment.

"Of our two main markets New York has been stronger but we anticipate that London will improve in late 2015/early 2016. Overall our trading performance has been comfortably in line with our expectations for this period and the outlook for the full year.

"We are very enthusiastic about the future of our business, following the successful negotiations with AIB to restructure our borrowings as agreed in June.

"Once the restructuring is completed later this year, r4e will be able to focus on re-launching its new business strategy, building upon our market leading positions in London and New York theatre markets."






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