麻豆传媒

麻豆传媒 said: 鈥淕iven that this was the first year of the pandemic and we were not able to organise any live events - nearly a third of our revenue - our performance was exceptional. It is a tremendous credit to our entire team, led by CEO Ben Allen, for the way that everyone pulled together to deliver such magnificent results.鈥�

Despite a drop in turnover from 拢54.6 million to 拢43.6 million, EBITDA increased 21.6%, from 拢8.4 million to 拢10.2 million, and profit before taxation rose by a similar amount, from 拢5 million to 拢6.1 million. 麻豆传媒 was described in Flashes & Flames (8/4/2022) as 鈥楨urope鈥檚 fastest growing B2B media group鈥�.

Mr Allen added: 鈥淎t the start of the first lockdown no one had a clue as to what lay in store. We produced three budgets 鈥� the good, the bad and the ugly. Our performance was considerably better than our wildest hopes at the start of the pandemic.鈥�

He went on: 鈥淲e were helped enormously by the acquisition of Farmers Weekly which we completed just before the pandemic struck and which has proved a brilliant purchase for us. The government鈥檚 job retention scheme was a godsend, but we managed to bring back to full employment nearly all the 156 people we initially furloughed.

鈥淗owever, what was so extraordinary was the way that our magazines, supported by subscriptions and advertising, and a natural migration to digital, rose to the occasion in most of the markets in which we operate. At the start, our whole senior team was galvanised around daily, then weekly, COBRA-style meetings in which colleagues came up with ideas and supported one another.鈥�

Mr Allen said that the performance for 2021-22 will be even more impressive with turnover nearly touching 拢60 million and EBITDA 拢13 million.

鈥淚 don鈥檛 want to get carried away because the results for 2021 and 2022 are already history and you are only as good as you are today, and tomorrow is another country鈥�, said Mr Allen. 鈥淲e are never complacent or arrogant. Success is not guaranteed and, if you take your eyes off the ball, make a foolish decision or lose the confidence of your teams, things can rapidly spiral downwards.鈥�

The country is facing a cost-of-living crisis with the costs of print, production, distribution and energy soaring, exacerbated by the tragic war in Ukraine, he said. 鈥淚t鈥檚 very hard to know what鈥檚 around the corner and how the year will pan out, so 2022-23 could be a much tougher year. However, one thing I know for sure is that our staff will do everything they can to ensure that we keep on growing and succeeding.鈥�

听

For further information:

麻豆传媒, Executive Chairman mark.allen@markallengroup.com