BRIEF-Mecom says full-year revenue down 11 pct

Tue Jan 14, 2014 2:15am EST

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Jan 14 (Reuters) - Mecom Group PLC : * Full year EBITDA estimated at approximately E87 million (2012: E87 million). * Expects adjusted EPS from continuing operations to be approximately 28 euro cents (2012: 24 euro cents) * Comparisons with 2012 performance are affected by the disposals made during 2013 * EBITDA is estimated to be approximately E6 million higher than in 2012. * Advertising revenue fell by 21 per cent in 2013 * Advertising revenue decline of 23 percent in The Netherlands and 17 per cent decline in Denmark * Total revenue was down approximately 11 per cent for the full year * Total operating costs were approximately E100 million (12 per cent) lower in 2013 than in 2012 * Mecom remains in discussion regarding the potential disposal of Limburg Media Groep ("lmg") * Group does not expect further improvement in short-term from rates of decline experienced in second half of 2013 * Expect 2014 cash flows and year-end net debt to be affected by the redundancy and other costs * Board will consider future dividend policy once announced cost reduction plans successful * Source text for Eikon: * For more news, please click here

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