8th Dec 2015 10:55
LONDON (Alliance News) - Daily Internet PLC, which provides web hosting and domain name services, on Tuesday guided to better-than-expected results for the full year, as the company reported a narrowing of its losses in the first half.
Pretax losses narrowed to GBP53,000 in the six months ended September 30, from GBP72,000 in the corresponding half the prior year, as revenue rose to GBP2.4 million from GBP1.8 million.
Operating expenses, excluding depreciation, amortisation, acquisition and integration costs, fair value adjustment and share based payments, rose to GBP1.2 million from GBP836,000. Depreciation rose to GBP153,000 from GBP119,000, while amortisation of intangible assets rose to GBP150,000 from GBP122,000. Acquisition and integration costs fell to GBP29,000 from GBP102,000.
"The market and opportunity is growing and continuously evolving, and we are well placed for continued growth. In light of the group's reorganisation process, particularly with regard to SME hosting and coupled with the developments in our managed hosting division, we expect the result for the full year to be ahead of current market expectations. We look forward to the remainder of this year and beyond with confidence," Chief Executive Chris Evans said in a statement.
Shares in Daily Internet were flat at 1.80 pence on Tuesday morning.
By Samuel Agini; [email protected]; @samuelagini
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