Live events agency Aeorema Communications booked a fall in annul profit after rising revenue was offset by one-off payments relating to the departure of its founders.

Pre-tax profit for the year through June fell to £59k, down from £211k on-year.

Aeorema incurred expenditure of £231k in relation to the departure of founders Peter Litten and Gary Fitzpatrick.

The sum included final salary payments, pension payments and associated costs including legal and professional fees.

Revenue rose 16% to £4.8m and profit before exceptional items rose 17% to £290k.

The company declared a final dividend of 0.75p a share, up 50% on-year.

'Looking forward to the financial year ended 30 June 2019 and beyond the outlook is very positive,' the company said.

'The strength of the new team has led to an excellent series of new business gains since the year end with both existing and new clients.'

'These gains include a major new client in the technology sector and a new global brand within the media sector.'

At 2:59pm: (LON:AEO) Aeorema Communications share price was +1p at 27p