25th Sep 2013 12:24
LONDON (Alliance News) - CentralNic Group PLC Wednesday posted increases in revenues and pretax profits following its listing on AIM, with revenues boosted by non-recurring consulting revenues.
The distributor of internet domain names saw an increases in revenues to GBP1.7 million in the six months ended June 30 from GBP1.5 million in the previous year half. It posted pretax profit of GBP636,000, up from GBP322,000 in the previous year. It said that profits had been boosted by non-recurring consulting revenues, including a cooperation agreement with Japanese internet services provider GMO Internet Group.
The company listed on AIM and raised GBP7 million in its initial public offer on September 2. The company said this would allow it to execute its strategy by investing funds over the next 18 months. It has signed contracts with 40 new registrars and resellers including GoDaddy, and estimates that its distribution network of domain retailers now represents over 82% of the global market.
"Our objectives when we listed on AIM were to accelerate our growth through securing new retail channels," said Chairman John Swingewood in a statement, "These are exciting times for CentralNic and the Board is confident that the company will achieve its commercial targets for the full year."
The company cautioned that whilst some of its business development and sales activities had produced revenues in this half, it is the nature of its business that the return on investments occurs, and recurs, in future years, which means that a majority of its recent activities have been focused on future earnings.
It said that it was on track to achieve strong revenues and profits for its full year.
Shares in CentralNic were trading up 2.7% at 75.00 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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