Stock data
| Market cap. | £34.9m |
| Last close | 137.50p |
| High / Low (52 weeks) | 169.5p / 99.5p |
| Stock market listing | AIM |
| Forecast net debt (£m) | 24 |
| Forecast gearing ratio (%) | 62 |
| Team | Consumer |
| Sector | Media & Entertainment |
Price performance
| % | 1m | 3m | 12m |
|---|---|---|---|
| Actual | (6.78) | (11.29) | 38.19 |
| Relative * | (2.2) | (4) | 51.87 |
* % Relative to local index
Other companies covered in sector
| Y/E Sep | Revenue (£m) | EBITDA (£m) | PBT (£m) | EPS (fd) (p) | P/E (x) | P/CF (x) |
|---|---|---|---|---|---|---|
| 2010A | 117.2 | 19.7 | (0.1) | (1.2) | N/A | 1.7 |
| 2011A | 125.5 | 20.3 | 0.9 | 2.6 | 52.9 | 1.8 |
| 2012E | 141.0 | 26.5 | 5.0 | 15.0 | 9.2 | 2.0 |
| 2013E | 136.0 | 25.5 | 3.7 | 10.8 | 12.7 | 1.5 |
Last updated on 19/04/2012
Latest research
Off to a good start
Update | Media & Entertainment | 13/03/2012
A bumper year ahead
Review | Media & Entertainment | 12/01/2012
From strength to strength
Flash note | Media & Entertainment | 29/11/2011
Q3 on track
Update | Media & Entertainment | 13/09/2011
Going for gold
Outlook | Media & Entertainment | 21/06/2011
Investment summary
Q1 results on 13 March showed good progress in a seasonally quiet quarter with revenue up 10%. Avesco is a major beneficiary of the Olympics and is also benefiting from a general trend to more live events. We increased our estimates for both FY12 and FY13 on the back of increased capex/expansion plans and rising margins (from a low base, helped by prior restructuring). The rating remains undemanding even before the hoped-for 2013 windfall from the Celador/Disney case, worth US$60m or c 135p per share.
Last updated on 23/04/2012
Industry outlook
Avesco's key exposures are to corporate spending on events and exhibitions (itself a function of marketing spend) and to broadcaster spending, notably on sport. It is benefiting from growth in the number, size and complexity of live events. Recent market trends have been positive, with growing customer confidence in the important US market. The 2012 'even-year' effect will be bolstered by the Olympics, UEFA Euro 2012, the Queen's Diamond Jubilee and UAE 40th anniversary events.
Last updated on 23/04/2012
Key management
| Ian Martin, CEO |
| John Christmas, FD |
Company address
| E2, Sussex Manor Business Park Gatwick Road Crawley Sussex RH10 9NH United Kingdom View website |
