London-based events, publishing and information company, Vitesse Media, has announced revenues in its Events Division 20 per cent ahead, as part of the company’s preliminary final results for the year ending 31 January 2014.
Vitesse reported it had completed a placing for developing a mobile crowd-funding platform designed to modernise the group’s entire technical platform.
Other highlights of the financial results included revenues up two per cent and losses halved.
A company statement said: “The success in growing events-based revenues has been particularly pleasing, and there has also been demonstrable success in increasing visitors to some of the company’s key websites.”
In addition to events revenues rising by a fifth on the 2012/13 year, Vitesse reported a 23 per cent increase in table sales, “as the climate for face-to-face events continued to improve”.
The contribution from the Events team to the bottom line increased by more than 50 per cent as a result, the company reported.
The Technology division, by contrast, based around Information Age, saw a fall in revenues during the year under review. Revenues from Vitesse’s Investment division also showed a slight decline over the year.
The company reported that trading to May showed an overall improvement in sales, and said the half-year should once again be ahead of last year.
Do you have news for CN? Email: Paul Colston