Change of Financial Year End

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: [phone]
Julio Bruno, CEO
Steven Tredget, Investor Relations Director
Liberum (Nominated Adviser and Broker)	Tel: [phone]
Clayton Bush / Andrew Godber / Edward Thomas
FTI Consulting LLP	Tel: [phone]
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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