20th Sep 2021 09:56
(Alliance News) - Silver Bullet Data Services Group PLC, in its first interim results as a London-listed company, reported a 30% rise in revenue from a year before but a widened loss.
Supporting its revenue growth, the London-based marketing services firm said it won 13 new clients for its 4D product during the six months that ended June 30, adding nine more since.
4D provides targeted advertising without the use of third-party data or cookies. It is "designed to enable advertisers to generate increased marketing [return on investment] in the post-cookie, first-party data era," the company said.
Silver Bullet's pretax loss widened to GBP3.9 million from GBP2.4 million a year before, even as revenue jumped to GBP1.7 million from GBP1.3 million.
The widened loss was partly due to the GBP508,821 cost of the company's initial public offering.
Silver Bullet listed on AIM at the end of June. It raised GBP9.5 million at an IPO price of 257 pence per share, giving it a GBP36.7 million debut market capitalisation. The stock was quoted at 269.00p early Monday, up 3.6%.
Also adding to the company's interim loss was a 38% increase in administrative expenses to GBP4.4 million in the recent half year from GBP3.2 million a year before.
Looking ahead, Silver Bullet Chief Executive Officer Ian James said increased interest among advertisers for programmatic media is expected to create a "positive environment" for the company's services in the second half.
"We have material visibility on full-year revenues, which provides confidence and positive momentum for the second half of 2021, and we remain excited for the longer-term prospects for our 4D product," he said.
By Tom Waite; [email protected]
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