Reach4entertainment expects earnings to be hit by terror incidents
Source - SMW
Reach4entertainment said it is expected to achieve adjusted annual earnings in 2017 'broadly in line' with market expectations, with its financial performance reflecting 'reduced activity'.
'As previously announced, in the UK the terror incidents in London and Manchester resulted in some live events being cancelled,' the company said.
'Generally, in both the company's main markets of London and New York, there have been fewer new theatre productions, a key driver of group profitability.'
'The year also saw exceptional restructuring costs incurred of approximately £1 million, primarily employment related.'
For the current financial year, earnings were expected to be 'in line' with expectations, the company said.
At 9:30am: (LON:R4E) Reach4Enternainment Enterprises share price was -0.1p at 1.95p