News Column

Connect Group Full Year Earnings To Slightly Beat Expectations

August 28, 2014

Hana Stewart-Smith

LONDON (Alliance News) - Connect Group PLC said Thursday that its underlying pretax profit for the year ending August 31 is expected to be in line with recent guidance, however its underlying earnings per share is expected to be slightly ahead due to its previous year tax credits being higher than it previously expected.

Its largest division, Connect News and Media, saw its newspaper and magazine operations continue at recent "robust run rates," and media operations have performed in line with expectations.

In Connect Books management actions are taking effect, the company said, and its recent performance stabilised in line with its expectations.

Connect Education and Care performed in line with its expectations, Connect said.

Connect said there had been no change its its underlying financial condition since its half-year, and that it continues to operate well within its new bank facilities.

It will announce its full-year results October 15.

Shares in Connect Group were trading up 1.8% at 155.75 pence per share Thursday morning.

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Source: Alliance News

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