International exhibition and conference group Expomedia says ‘2007 is set to be profitable’ after £11 million losses in 2006.

The Fulham-based company, which last year suffered losses in discontinued businesses and a roof collapse at one exhibition hall, says growth was brisk in the first half of the current year. Chief executive officer Mark Shashoua and his board colleagues say earnings before interest, tax, depreciation and amortisation were positive in the six months to June, with turnover on continuing activities 32 per cent ahead and bookings up 42 per cent.

AIM-quoted ExpoMedia has continued to concentrate on India, Russia, Poland and Germany as well as the UK and says its conference business in the first three of those countries was 74 per cent up on a year previously. The company has made several acquisitions, including Homebuyer Events for up to £16 million and Exposystems International for £800,000, and also some ‘significant non-core disposals’.

Shashoua proclaims ‘with trading in line with expectations, we look forward to 2007 being a profitable year’. The company’s shares, which had fallen from 166.5p in 2004 to 79p last February, have now rallied to 118p, up 4p this morning and valuing the company at £59.4 million, and could make further progress.