Time Out Group plc Change of Financial Year End (6063G)
November 26 2020 - 3:00AM
UK Regulatory
TIDMTMO
RNS Number : 6063G
Time Out Group plc
26 November 2020
26 November 2020
Time Out Group plc
("Time Out", the "Company" or the "Group")
Change of Financial Year End
Time Out Group plc announces a change to its accounting
reference date and financial year end from 31 December to 30 June
with immediate effect. Going forward interim and annual reports
will be published each year for the 6 months to 31 December and 12
months to 30 June respectively.
The Group's activities have continued to evolve in recent years,
notably with the trading success and global roll out of Time Out
Markets. The division's trading in the medium to long term
(post-COVID) is likely to be a very significant contributor to the
Group's revenues and profits, as well as being increasingly
seasonally weighted to the second half of the calendar year. As a
consequence, the Board believes that a 30 June year end will be in
the best interest of the Company.
For further information, please contact:
Time Out Group plc Tel: +44 (0)207 813
3000
Julio Bruno, CEO
Steven Tredget, Investor Relations Director
Liberum (Nominated Adviser and Broker) Tel: +44 (0)203 100
2222
Clayton Bush / Andrew Godber / Edward Thomas
FTI Consulting LLP Tel: +44 (0)203 727
1000
Edward Bridges / Stephanie Ellis
Notes to editors
About Time Out Group plc
Time Out Group is a global media and leisure business that helps
people explore and experience the best of the city through its two
divisions - Time Out Media and Time Out Market. Time Out launched
in London in 1968 with a magazine to help people discover the
exciting new urban cultures that had started up all over the city.
Today, the Group's digital and physical presence comprises
websites, mobile, magazines, live events and Time Out Market.
Across these platforms Time Out distributes its curated content -
written by professional journalists - around the best food, drink,
culture, entertainment and travel across 328 cities in 58
countries. Time Out Market is a food and cultural market which
brings the best of the city under one roof: its best chefs, drinks
and cultural experiences - based on editorial curation. The first
Time Out Market opened in Lisbon in 2014 and Miami, New York,
Boston, Montreal and Chicago followed in 2019 with a further
pipeline in other global locations. Time Out Group, listed on AIM,
is headquartered in the United Kingdom.
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END
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