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Corporate Update re. Dewynters Germany

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RNS Number : 4558B
Reach4Entertainment Enterprises PLC
07 June 2019
 

7 June 2019

 

 

reach4entertainment enterprises plc

('r4e' the 'Group' or the 'Company')

 

Corporate Update re. Dewynters Germany

 

reach4entertainment enterprises plc (AIM: R4E), the entertainment, marketing and communications group, announces the following corporate update in relation to Dewynters Germany, the provider of live entertainment marketing services and a wholly owned subsidiary of r4e.

 

Dewynters Germany was launched under r4e's previous management team in October 2016. As part of his review of the Group's global strategy, Marc Boyan CEO of r4e, has taken the decision, to service the German market from Dewynters London, in order to improve efficiencies and drive greater profitability. In the year ended December 2018 Dewynters Germany made a loss before tax of £475,446 which impacted negatively on overall Group profit, as disclosed in the full year results. The net asset position of Dewynters Germany as at 31 December 2018 after removing intercompany balances was £258,278. As part of this restructuring process Dewynters Germany will close.

 

Since the arrival of the Group's new management in late 2017, a series of operational changes have been implemented to improve performance and create a broader service offering, with a particular focus on the UK and US markets. This latest restructure continues the focus on this strategy.

 

Marc Boyan commented: "We would like to thank our German team for their efforts and the projects won to date. The changes made across the Group during 2018 helped to deliver much improved level of client servicing and profitability. Our decision to close Dewynters Germany is an extension of our restructuring process, as we generate greater synergies across the Group and focus on the UK and US, which are our biggest growth markets."

 

reach4entertainment enterprises plc 


Marc Boyan, Chief Executive Officer

Paul Summers, Chief Operating Officer           

 

 +44 (0) 20 7968 1655

Yellow Jersey PR


Charles Goodwin

Harriet Jackson

 

 +44 (0)7747 788 221

 +44 (0)7544 275 882

Grant Thornton, NOMAD 


Philip Secrett

Jamie Barklem

Seamus Fricker

 

 +44 (0) 20 7383 1500

Dowgate Capital, Broker


James Serjeant

David Poutney

 

 +44 (0) 20 3903 7715

 

Notes to Editors

 

reach4entertainment enterprises plc ("r4e") operates a collection of theatrical, film and live entertainment marketing, PR, advertising and display agencies, across the world. The Company uses its extensive experience in the live entertainments space to create value through investing in innovative and established agencies that provide communications services to a range of clients involved with theatre, film, concerts and more.

 

For further information on r4e you are invited to visit the Company's website at www.r4e.com.

 

Spot and Company of Manhattan, INC.

A global leading full-service arts and live entertainment advertising and marketing agency. In an ever-changing media landscape, it stays ahead of the curve with a mix of bold positioning through interactive, broadcast, environmental and print campaigns.

 

https://www.spotnyc.com

 

Dewynters Limited

A leading independent arts, events and live entertainment marketing specialist. The agency's work in theatre, museums, attractions, sport and music is seen right across the globe.

 

http://www.dewynters.com

 

Newman Displays Limited

The UK's leading large-scale outdoor signage, front of house, marquee display and installation company. Clients include major West End theatre productions, leading film companies, cinemas and major global events.

 

http://www.newman-displays.com

 

Wake the Bear Limited

A marketing communications agency that supports businesses to invent, reposition and regenerate their brands in order to grow. The agency carries out brand strategy, communications planning and end-to-end activation.

 

http://wakethebear.co.uk

 

Story House PR Limited

A new public relations agency for the theatre and live entertainment industries, operating in the UK and internationally. The agency crafts engaging campaigns for audiences, driven by strategy: the right channel, at the right time, with the right message. Fully integrating PR with paid media and social, ensuring all elements of a campaign are working together, Story House collaborates with its clients to ensure its work is dedicated to realising their ambitions.

 

www.storyhousepr.co.uk 

 

Buzz 16 Productions

Buzz 16 is an independent production company, which creates both short and long form sports orientated content. The Company was co-founded by former Manchester United player and respected broadcaster, Gary Neville, along with former Sky Sports Premier League producer, Scott Melvin.

 

https://buzz16.uk

 

Sold Out

Sold Out is an independent full service advertising agency, specialising in arts and entertainment for over 25 years.

 

https://soldout.london

 

 

 

 


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