Blenheim announces six-month interim results.PORT LEE, N.J.--(BUSINESS WIRE)--Oct. 4, 1995--Blenheim Group PLC, the international owner and organizer of exhibitions, today announced interim results for the six-month period ended June 30, 1995. o Organic revenue growth of 7 percent o Pre-tax profit of $20.8 million after non-cash write-offs of $3.4 million o Profits for 1995 heavily second-half weighted o Mixed results from France, USA, but good results from rest of group o Cost controls in place. Group now concentrating on improving organic growth o Strong cash flow. Operating cash flow Operating cash flow Earnings before depreciation minus taxes. Measures the cash generated from operations, not counting capital spending or working capital requirements. 120 percent of operating profit o Earnings per share of 13.4 cents (IIMR IIMR Institute of Investment Management and Research (United Kingdom) IIMR Institute of Investment Managers and Research IIMR Institute of Industrial Market Research IIMR Indian Institute of Management and Research (India) ) and an unchanged 5.6 cent dividend o John Hunt replaces Christopher Crowcroft as group finance director
Six Months Six Months
Ended June 30 Ended June 30
1995(a) 1994(a)
(Dollars in millions except per
share data)
REVENUE 146.5 153.6 Operating profit 28.3 34.0 Loss on disposals (3.4) -- Net interest payable (4.1) (4.4) Profit on ordinary activities before tax 20.8 29.6 Earnings per share: net basis 9.7 cents 16.6 cents IIMR 13.4 cents 16.0 cents Dividend per share 5.6 cents 5.4 cents (a) Weighted average exchange rate of 1 Pound Sterling for $1.59 for 1995 and 1 Pound Sterling for $1.54 for 1994. Neville Buch, chairman of Blenheim Group PLC, said, "Profits for 1995 will be heavily second-half weighted. Management action taken over the past 18 months coupled with improving trading environments is beginning to yield results. We are currently trading in line with budget and expect progressively to see the effects of our actions in the last part of this year and over the following two years. We are increasingly concentrating on growing revenues organically now that the major elements of the cost reduction program instigated 18 months ago have been achieved. Blenheim Group PLC produces more than 200 expositions staged each year in more than 10 countries. The Blenheim Group is publicly owned Publicly owned can refer to:
London marketplace for securities. It was formed in 1773 by a group of stockbrokers who had been doing business informally in local coffeehouses. . Blenheim Group USA Inc., the wholly owned U.S. subsidiary of Blenheim Group, organizes more than 90 trade shows in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . Industry-leading shows include JA International Jewelry Shows, Bobbin bobbin, implement on which thread is wound, used in sewing, spinning, weaving, and lace making. Sometimes the wooden spools of sewing thread are called bobbins. , CMM (Capability Maturity Model) A process developed by SEI in 1986 to help improve, over time, the application of an organization's supporting software technologies. International as well as preeminent events in the information technology sector -- PC EXPO A trade show for resellers, corporate managers and technical professionals from CMP Media LLC, a subsidiary of United Business Media. First held in New York in 1983 with 120 exhibitors and 9,600 attendees, the show grew from the personal computer's early years to 550 vendors and more than , Networks Expo, DB/EXPO and UNIX UNIX Operating system for digital computers, developed by Ken Thompson of Bell Laboratories in 1969. It was initially designed for a single user (the name was a pun on the earlier operating system Multics). EXPO. CONTACT: Blenheim Group USA Ralph Ianuzzi Jr., 201/346-1400 Greg D. Adams, 201/346-1400 |
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