Perform Group reassures investors with solid results

Steve Dinneen
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PERFORM yesterday continued its long journey to restore investor confidence after its disastrous IPO this year with a solid set of results.

The media rights company posted year-on-year revenue growth of 55 per cent to £27.4m and said it is on track to hit full-year forecasts.

Joint chief executive Oliver Slipper said: “We are very pleased to report that our strong performance has continued through the third quarter, with further growth across all our businesses and geographies. The funds raised on listing give us a substantial platform to growth through acquisition and this pipeline remains promising... We are on track to deliver strong growth in 2012.”

Perform listed in April for 260p a share, giving it a market cap of more that £500m. However, it plunged as low as 150p a share over the summer before recovering to yesterday’s price of 200p.