StockMarketWire.com - Ascential reported revenue from continuing operations of £375.8m for 2017, up 25% from £299.6m the prior year while maintaining strong adjusted EBITDA margins of 31.8%.

Adjusted EBITDA grew to £119.5m 24.6% from £95.9m the previous year.

The company proposed final dividend of 3.8p, making a total dividend of 5.6p for the year up 19%.

The firm's exhibitions & festivals division reported revenue growth of £196.9m, up 5.7% and adjusted EBITDA of £82.3m, up 5.1% as strong performance in Cannes Lions, and continued expansion of Money20/20 offset weakness in the spring and Autumn fair revenue.

The company said it plans to establish Money 20/20 as the leading financial technology payments event platform across the four biggest markets of the United States, China, Europe and South-East Asia.

Revenues in its information services sector grew 7.4% to £178.9m while adjusted EBITDA grew 0.2% to £50.4m as brands WGSN and groundsure reported strong growth.

The company said it is encouraged by the current level of forward bookings, which will help increase revenue and profit in 2018.

'Our top 10 brands deliver over 80% of our revenue and 90% of our organic growth. By continuing to optimise both the focus of our teams and the allocation of capital to our most important brands, we have grown well in 2017. This growth allows us to continue to simplify and optimise our business model to serve both our customers' and shareholders' needs.'

'Many of our clients currently achieve less than 20% of their total sales through digital channels. They themselves recognise the need to move faster to drive this critical transition and, with our developments in the last 18 months, we are now very well positioned to assist them to unlock this future.'

'We will continue to assess the balance of the brands and product types in our company and how we can optimise our capital allocation going forward and we will continue to take proactive moves to achieve this. We have achieved a significant transition of our business over the last five years, particularly since our IPO. Nevertheless, the urgency of continued and accelerated transition that our customers face to remain relevant remains just as critical for us.'






At 9:09am: [LON:ASCL] Ascential Plc share price was +18.3p at 396.5p



Story provided by StockMarketWire.com