The consolidated financial statements for the year ended 31st January 2024 are available here.
Clarion Events half-year review 2024/25
Comet Bidco Limited and its subsidiary undertakings (together “the Group”) provides its half-year update for the 6 months ending 31st July 2024.
Trading update
- H1 trading out-performed budget.
- Sales pacing / forward bookings remain strong with percentage sold against forecast pacing in line with this time last year.
Debt and cash
- During February 2024, the Group upsized both the TLB1 sterling facility (£70m) and TLB2 US dollar facility ($38m), repaying the RCF in full and for general corporate purposes.
- We have maintained our careful management of the Group’s cost base and cashflows as well as actively monitoring the impact of the continuing macroeconomic pressures.
- Collections of funds for future events remains strong, with cashflow outperforming budget.
Looking forward
- M&A activity resumed during H1 with the acquisition of Global Gaming Business in March to develop our digital, data and audience development capabilities and global reach across Clarion Gaming. Our acquisition pipeline remains strong.
- As well as our continued development in digital initiatives, both as standalone instances and in conjunction with our live events, we have been focussed on developing launches in every major geography including Europe, the US and in Asia.
- We are well placed to continue to deliver exceptional customer outcomes and experiences, alongside longer-term value creation.