MRM Metrodome Grp.

TIDMMRM

RNS Number : 4622U

Metrodome Group PLC

22 December 2011

22 December 2011

Metrodome Group Plc

(the "Group")

Trading Update

The Metrodome Group PLC Board has today announced that its operating profit for the 12 months to 31 December 2011 is expected to be materially below current market expectations. Despite the Group's trading divisions Metrodome Distribution and Hollywood Classics trading in line with expectations, Target Entertainment ("Target"), the Group's TV distribution business, has experienced tougher than expected trading conditions in the final quarter of the year. As in previous years Target expected to generate most of its revenue in the last six weeks of the calendar year but has recently been unable to achieve forecast revenue for its TV product due to a marked slowdown in sales in European markets.

Mark Webster, Executive Chairman of Metrodome Group PLC, commented:

"Despite the difficult market conditions, we have been satisfied with the performance of Metrodome Distribution and Hollywood Classics which has integrated well into the Group since its acquisition in August. However, due to the fact that a majority of Target's revenues are derived from international markets we have seen its performance materially affected by the adverse macro-economic conditions in Europe. Many of our customers are either not buying product at all or delaying decisions on any new purchases which has led to a worse than expected financial performance."

For further information please visit www.metrodomegroup.com, or contact:

 
 Metrodome Group plc 
 Mark Webster / Deborah Brown      Tel: 020 7535 7300 
 Charles Stanley Securities 
 Dugald J. Carlean / Karri Vuori   Tel: 020 7953 6000 
 Tavistock Communications 
 John West / Simon Compton         Tel: 020 7920 3150 
 

This information is provided by RNS

The company news service from the London Stock Exchange

END

TSTFELFWFFFSELE

Metrodome (LSE:MRM)
Historical Stock Chart
From Apr 2024 to May 2024

Metrodome (LSE:MRM)
Historical Stock Chart
From May 2023 to May 2024