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Vision Media Group has confirmed that it has pared back staff numbers from 80 to 30 and experienced a challenging year of trading. However, with a new debt facility in place and contracts beginning to bear fruit, bosses insist the outlook is positive.
The outdoor advertising firm, based in Cheadle, released its latest trading update yesterday giving full details of its recent performance.  Rollercoaster ride for VMG In terms of outlook the picture was upbeat, as the firm claimed £1.1m of booked sales this year for its shopping mall business, £600,000 of predicted revenue for its theme park network and further revenue flowing into the company from its recent contract agreement with Clear Channel UK. Chairman Mike Cottman was candid in his assessment of the past year, noting: “2007 was the year in which we started the process of implementing a new strategy and rebuilding our business model. “As with any turnaround the positive impact of the restructuring takes time to become apparent, as such, 2007 continued to be the expected financial challenge for the Group. “However, I am pleased to report that we are already seeing the initial benefits of the 2007 and early 2008 re-structuring coming through.” He added: “We believe that the combination of all of what we have achieved to date and what we expect to achieve over the next few months will complete our turnaround story and will ensure that investors should be looking forward to the future with renewed confidence.” Something to add? Then leave a comment below or email us now.
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