23rd Jun 2015 07:18
LONDON (Alliance News) - Online advertising company Digital Globe Services Ltd Tuesday said it is promoting interim Chief Financial Officer Andrew Lear to a permanent position, and it expects to pay a dividend for its full year as it anticipates its earnings will meet market expectations.
The company expects to post earnings before interest, tax, depreciation, amortisation and other costs for the year to end-June in line with market expectations. It said its revenue and gross margin recovered in the second half compared to the first, and as a result it expects to end the year with net cash ahead of expectations.
At the time of its interim results in March the company said it expected to maintain year on year revenue in its second half, and deliver gross margin approaching the level of the first half of 2014.
"We are encouraged by early, positive evidence that the investments we made in our infrastructure and people in the first half of the year are bearing fruit, as seen in the stronger second half performance, and we believe we are now in a better position to maximise opportunities within the evolving marketplace," Chief Executive Officer Jeff Cox said in a statement Tuesday.
Lear will take up the position of Chief Financial Officer at a date to be confirmed "in due course."
Shares in Digital Globe Services are trading up 10.4% at 51.90 pence Tuesday morning, one of the best performers in the AIM All-Share.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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