The events group behind the Cannes Lions advertising festival hailed strong trading as it reduced losses in the first half of the year.
Ascential – which used to be called Emap and is on the FTSE 250 index – said revenue in the six months to the end of June was up 18 per cent to £307.4m.
Business was boosted by its events division, which includes Money20/20 and Cannes Lions and saw its revenue rise 25 per cent.
Cannes Lions is seen as the largest gathering of advertising executives and attracts celebrities such as actress Eva Longoria.
Ascential losses came in at £11.8m in the first half, down from £41.6m in the same period last year.
Star quality: Cannes Lions is seen as the largest gathering of advertising executives and attracts celebrities such as actress Eva Longoria
Chief executive Duncan Painter praised the ‘extremely successful editions in June’.
Shares rose 6 per cent, or 11.5p, to 202p.
This post first appeared on Dailymail.co.uk
