Ascential, organiser of exhibitions such as Bett and Spring Fair, has announced another year of good organic growth in its end of year statement for 2017, with adjusted EBITDA growth to £119.5m.
The company has been focusing on its higher growth brands over the past year, with acquisitions of MediaLink and Clavis and the disposal of the Heritage Brands.
The year has seen some significant changes in the company’s events, with the acceleration of the launch of Money 20/20 in China to 2018 and the announcement of a strategic review of the exhibitions business (Spring and Autumn Fair, Bett, CWIEME, Pure, Glee and BVE).
The organiser has also reported n operating profit from continuing operations of £44.5m (2016: £32.1m): growth of 39 per cent.
Duncan Painter, chief executive officer, commented: “We have delivered another set of good results, growing both revenues and profits. The strategic actions we have taken in the last 18 months have increased our focus on our primary brands, enabling us to accelerate product innovation, grow our market leadership positions and further diversify our revenue internationally. The business continues to generate significant cash flows to fund investment, shareholder returns and acquisitions. The integration of MediaLink and One Click Retail has progressed to plan and they, together with Clavis, enhance our offering and provide new opportunities for growth.
“As we look to 2018 and beyond we will build upon our reputation for enabling customers to succeed in the digital economy in the areas of product design, marketing and sales. We will continue to critically assess the potential of our brands to support these goals and where to allocate capital. The strategic review of our exhibitions business that we announce today is one such exercise.
“While still early in 2018, we are encouraged by the current level of forward bookings. Our achievements in 2017 have positioned us well to increase our growth rate in revenue and profit in 2018 and the Board is confident about our prospects for continued success.”