19th Jul 2024 11:11
(Alliance News) - Dianomi PLC on Thursday said that revenue in the first half of the year was similar to a year ago, as it noted that markets have stabilised.
The London-based digital advertising platform said cash stood at GBP8.1 million as at June 30, up 5.2% from GBP7.7 million at December 31.
Dianomi emphasised that new customers during the first half of 2024 included PwC, the London Business School, Polen Capital and Northern Trust.
Noting that revenue in the first half of 2024 was similar to that of a year prior, Dianomi said: "The successful cost reduction programme implemented in the prior year combined with a more stable market environment ensured the group maintained the profitability it returned to in the second half of 2023, albeit at a lower level due to the decrease in gross margin."
The company expects gross margin for 2024 to be similar to that of the second half of 2023 at about 26%, with will impact profitability leading to lower earnings before interest, tax, depreciation and amortisation.
Chief Executive Officer Rupert Hodson said: "Following a challenging 2023, this year our markets have stabilised albeit a level of caution remains. That said, we are attracting the interest of leading global publisher brands and our new pipeline of prospects is extremely encouraging. I believe this reflects the growing demand from major publishers to secure privacy-first demand across both native and display, as they continue to future-proof their business in preparation for cookie deprecation and the loss of identity signals. Whether we can monetise this potential fully in 2024 remains to be seen but our longer-term market position is strong."
Dianomi shares were 5.5% higher at 58.55 pence each on Friday morning in London.
By Tom Budszus, Alliance News slot editor
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