Clarion Events Group Half Year review – 31 July 2019
The Clarion Events Group (“the Group”) provides its half year update for the 6 months ending 31 July 2019.
- Revenue at 31 July has grown in line with management expectations, including a full six months of revenue generated by Global Sources and PennWell (acquired March 2018) and the biennial results of Latin American Defence and Security Exhibition (LAAD) held in April 2019.
- Strong year on year growth was achieved within the Electronics, Energy & Resources and Gaming sectors.
- The Group has continued its bolt-on acquisition strategy during the period with the acquisition of InsureTech Connect LLC in March 2019 and Media 10 (Shanghai) Exhibition Company Ltd in May 2019.
- InsureTech Connect is a US-based B2B events company that addresses the US insurance technology market.
- Media 10 (Shanghai) Exhibition Company operates high-end design events in Shanghai and Beijing, and will strengthen the Group’s Retail & Home sector presence in Asia.
- Both companies are being successfully integrated into the Group in their respective geographies. The Group portfolio remains well balanced between Europe, the US and Asia.
- Clarion successfully launched the Egypt Defence Expo which won the prestigious “Best International Trade Show” award at the Exhibition News Awards in March 2019.
- In February 2019, the Group disposed of certain assets purchased as part of the PennWell acquisition in March 2018. These assets were identified as non-core before the acquisition of PennWell.