Clarion Events Group Half Year review – 31 July 2018
Clarion Events Group provides its half year update for the 6 months ending 31 July 2018.
- Like for like revenue grew at 5% during the period on a smoothed, continuing and constant currency basis which was in line with expectations.
- Strong year on year growth was achieved within the Gaming, Enthusiast and Technology sectors and the newly acquired Global Sources Spring shows and PennWell FDIC and Hydrovision.
- With the backing of Blackstone, Clarion Events Group acquired Global Sources and PennWell in March 2018.
- Global Sources provides B2B sourcing opportunities with companies manufacturing in China through a combination of events and an online marketplace.
- PennWell is a global events and media company with a strong presence in Energy, Fire, Oil & Gas.
- The integration of both companies is progressing well and with PennWell’s strong position in the US and Global Sources in Hong Kong and China the Clarion Events Group portfolio is now well balanced between Europe, the US and Asia.
- The Group has continued its bolt-on acquisition strategy during the period with the acquisition of IGSM (NGA).
- Following on from being voted the Association of Event Organisers (AEO) “Most Respected Company” in 2017, Clarion was awarded “Most Influential Company of the last 25 years” in 2018 by the AEO.
- To reflect the significant growth of the Group the senior management team has been strengthened during the period by the appointment of Richard Johnson as Group CFO, Adam Ford as Group COO, Andrej Moxnes as Group CTO and Wei Hu as CEO of Global Sources.