2nd Dec 2021 12:33
(Alliance News) - Digitalbox PLC announced on Thursday it expects to end 2021 ahead of market expectations after a stronger than anticipated second half.
Shares were up 38% at 9.67 pence on Thursday afternoon in London.
The Bath-based mobile-first digital media company expects to exceed the most recently upgraded market consensus for earnings before interest, tax, depreciation and amortisation of GBP700,000.
In 2020, Digitalbox recorded an adjusted Ebitda of GBP500,000.
The company - which own Entertainment Daily, The Daily Mash, and The Tab - said it also expects increased revenue of around GBP3.3 million which would be up 47% from GBP2.2 million the previous year.
Trading across the Digitalbox's three brands has been stronger than anticipated in the second half of the year, which represents its most important trading period, resulting in the company's positive outlook for the year as a whole.
Digitalbox said that the "positive trend" in the UK mobile advertising market has continued and contributed to its over performance in revenue.
Strong traffic was also cited for its strong performance, with coverage of seasonal television staples like Strictly Come Dancing and I'm A Celebrity driving significant traffic to Entertainment Daily and reporting on Netflix phenomenon Squid Game engaging readers of The Tab.
Digitalbox expects to announce its 2021 results in March.
By Heather Rydings; [email protected]
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