Aeorema revenue hits £11.8m in best ever trading year

Meetings /  / 
Steve Quah, CEO of Cheerful Twentyfirst Steve Quah, CEO of Cheerful Twentyfirst

Aeorema, owner of agencies Cheerful Twentyfirst and Eventful, has announced its strongest trading year on record.

The company saw a 130 per cent increase in revenue, with trading throughout the year ahead of management’s expectations following a very strong last quarter of the financial year.

The turnaround is, unsurprisingly, due to the return of live events, including Cannes Lions where Aeorema had its largest ever presence. Virtual and hybrid events continue to be a source of revenue for the company, which has a strong cash position in excess of £1.65m.

Steve Quah, CEO, said: “I am delighted to be reporting our best financial performance in the history of the company, demonstrating the success of the shift in strategy over the last two years.

“This is because despite facing headwinds with the Omicron variant of Covid-19, which was a major disruption in the middle of our financial year, we have once again shown incredible spirit and talent to help our clients navigate another challenging period and deliver some of our best work ever.”

Subject to audit Aeorema had an incredibly busy period leading up to the close of its financial year on 30 June 2022, in part due to the increasing return of live events. Cannes Lions was held in person in June for the first time since 2019 and the company had its largest presence to date.

Coupled with a continued strong performance from the US office along with new US client wins, and a high demand for virtual and hybrid events, the company has produced its strongest financial performance in its history.

Aeorema expects to report revenues (subject to audit) of no less than £11.8 million for FY 2022 (FY 2021: £5.09 million) and profits before tax (subject to audit) of no less than £700,000 (FY 2021: loss £159,698).

The prospects for this new financial year remain favourable and the company is confident that it will continue a positive trajectory into 2023.

Quah added: “We continue to support our clients to help them achieve their strategic and communications objectives, and I am very proud that we are also being recognised for our work. I look forward to continuing our successes and watching Aeorema continue to grow and flourish.”

Aeorema, through its creative services division Cheerful Twentyfirst, specialises in creating engaging, immersive experiences and innovative campaigns for its clients, while through Eventful Ltd, its events division, it specialises in global rewards and incentive programmes, event management and luxury experiences.

Paul Harvey
Written By
Paul Harvey
M&IT editor Paul Harvey is a journalist with more than 15 years of experience. He began his career in the local press, working for various titles across the north. Since joining M&IT in 2013, he has become a trusted and respected voice in the sector, championing event professionals and reporting on all aspects of the events industry for the brand.

Latest Magazine

Time to stop
Our sexual harassment survey results
Read More
Social Feed