Theatre marketing firm Reach 4 Entertainment shares rise by a third after doing a roaring trade
The theatre marketing firm that promoted Hamilton and The Lion King saw its shares rise by nearly a third as it signalled strong results for 2019.
Reach 4 Entertainment rose 31.4 per cent, or 0.28p, to 1.15p after it said full-year profits would be ‘significantly’ higher than it originally predicted when they are finally announced in May.
House broker Dowgate Capital raised its forecasts for pre-tax profits in 2019 by 27 per cent to £1.9million, and by 9 per cent to £2.4million in 2020.
Sahres boost: Theatre marketing firm Reach 4 Entertainment promoted Hamilton and The Lion King
It follows long-running attempts to change the fortunes of a firm which has seen its shares slide more than 70 per cent in the past five years.
The business, which also works with the likes of the British Film Institute and the Royal Shakespeare Company, is now worth £14.7million.
The group is expected to post revenues of £135million for 2019, up from £76.7million last year.
Its subsidiary Dewynters is working on Joseph & the Amazing Technicolour Dreamcoat, Jesus Christ Superstar and Disney hit Frozen, which opens this year.