Ascential sees full year trading in line as marketing powers ahead
ASCENTIAL
£3.13
17:35 24/04/24
Exhibitions company Ascential said trading was in line with full year expectations with its product design, marketing and sales divisions all reporting organic first half revenue growth.
The marketing segment was expected to deliver revenue growth of 12% in the first half with the Cannes Lions creative industries conference and MediaLink both expected to produce double digit first half increases, the company said in a statement.
“We anticipate a successful launch of the new CLX platform and good growth in Cannes Lions delegate and awards entry revenue. We have also seen strong engagement with our sponsorship and digital products. The refocus of MediaLink's business undertaken in 2018 was a key driver of its strong growth in the half,” the company said.
Product design was expected to deliver first half growth of 9% with ongoing strong growth in subscriptions enhanced by an “excellent” performance from its specialist Mindset advisory product and a successful launch of the new WGSN Beauty product.
The sales segment was forecast grow to revenue by 3%, partially offset by a decline in the second edition of the Singapore event held earlier in the half. The recently acquired Flywheel Digital continued to deliver very strong growth and was trading ahead of expectations.