19th May 2025 10:14
(Alliance News) - Dianomi PLC on Monday reported a swing to profit in 2024, despite having a fall in revenue.
The London-based digital advertising provider had a pretax profit of GBP228,000 in 2024, swinging from a GBP1.8 million loss the previous year.
The company's administrative costs fell to GBP7.1 million in 2024, to GBP8.3 million. In addition, the firm in 2023 reported a one-time cost of GBP1.1 million for reorganising the business.
Dianomi shares fell 9.4% to 30.80 pence in London on Monday morning.
Dianomi's revenue was GBP28.0 million in 2024, down 7.0% from GBP30.2 million in 2023. This was due to "lower levels of demand" across its advertiser base.
Looking forward, the company said it "remains well positioned", expecting an increase of between 8% and 10% in digital advertising spending in the US. It also expects US spending to exceed USD325 billion in 2025.
Chief Executive Officer Rupert Hodson said: "The start to 2025 has had its challenges due to macroeconomic headwinds but we have had some encouraging developments, with two significant new publisher wins and the signing of a deal with Microsoft Monetise to expand our addressable advertiser base.
"While the investments we are making will result in a near-term increase in our cost-base and a temporary impact on profitability, we are confident they will strengthen our market position, help to drive sustainable growth and deliver long-term returns for shareholders."
By Olivia Mason-Myhill, Alliance News reporter
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