Over the course of three years, First Artist Corporation has been successfully transformed into a broad-based group with high visibility earnings and a low-risk acquisition model delivering high incomes, cash generation and organic growth. No business can plan sensibly for the future without first securing stability and consistent growth in revenue streams in the present. First Artist Corporation’s success in doing so is what make its position in the media, events and entertainment sectors so exciting.

The financial and management systems introduced at Group level have played a key role driving operational efficiencies and supporting the expansion of businesses into new areas. The First Artist Group will continue its drive to improve profit margins whilst taking advantage of the opportunities for growth through cross referral that emerge from the synergies between different divisions, and opening up new revenue streams through the ownership of media rights.

The nature of media and entertainment has changed rapidly over recent years, with the shift away from traditional forms of media into digital web-based multi-media, driven by the advent of new technologies. This is dramatically increasing the rate of media and audience fragmentation, and the diversification of entertainment channels. Conversely, it has also resulted in significant growth in the live event sector and this growth is forecast to continue for some time.

We will continue to seek earnings-enhancing acquisitions where they complement the strategic focus of the Group on media, entertainment and events.