Stmnt re Share Price Movement
September 10 2001 - 10:59AM
UK Regulatory
RNS Number:7406J
Sportsworld Media Group PLC
10 September 2001
10 September 2001
Sportsworld Media Group plc
Full year trading in line with market expectation
Sportsworld Media Group plc ("Sportsworld") has noted the significant decline
in its share price in recent days. Except for Stock Market sentiment,
Sportsworld knows of no reason for such a decline and its Board continues to
be confident that the group will meet market expectations for the year to 30
June 2001.
Sportsworld looks forward to announcing its preliminary results on 3 October
and reaffirming the success of its resilient business model. Unlike others in
the media sector, Sportsworld is not exposed in the same way to the decline of
advertising spending and indeed has benefited from the recent trend of
advertisers seeking new avenues of communication. Sportsworld is now uniquely
placed to offer brand building through television content creation, event
management and sponsorship and has recently shown how this model has worked
for clients such as Pepsi, L'Oreal and Adidas.
Recent deals with the NBL (National Basketball League of Australia), the WCS
(World Cup Skateboarding) and the Seve Ballesteros Trophy demonstrate
Sportsworld's on-going growth into sports related activities. The creation of
the new UK independent production company Zeal TV has, at the same time, shown
Sportsworld's commitment to non-sports content production.
The strong growth experienced last year by the group has continued into the
current year and, given the good visibility in its business, the Board is
confident that Sportsworld will continue to progress as expected.
Sportsworld also confirms, following press speculation, that it is in talks
concerning the possible disposal of certain assets relating to its non-core
Australian television airtime sales business. These assets make an immaterial
contribution to group revenue and profit.
Enquiries:
Sportsworld Media Group plc
Geoff Brown
Andy Fletcher
0207 240 9626
Financial Dynamics
Tim Spratt
0207 831 3113
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