10th Aug 2022 11:43
(Alliance News) - DigitalBox PLC on Wednesday said revenue in the first half of 2022 was "significantly" ahead of expectations, but it warned on a slowdown in the second half.
In the six months ended June 30, the Bath-based digital media company reported revenue of GBP1.9 million, up 40% from GBP1.3 million the previous year.
The firm explained the improvement was due to "exceptionally strong" traffic for its Entertainment Daily site and ongoing improvements in the monetisation of The Tab.
DigitalBox added that it expects the acquisition of the web and mobile platform of TVGuide.co.uk Ltd will be completed in the second half of 2022, on schedule.
The acquisition was first announced in May and is expected to enhance revenue performance and profitability.
Looking forward, the company said it expects a "challenging" macro-economic environment in the second half which it says will "likely" negatively impact advertising revenue in the second half.
Nonetheless, DigitalBox said it remains confident in meeting market expectations for the full year.
DigitalBox will publish its interim results on September 27.
Shares in the firm were down 6.3% at 11.25 pence on Wednesday in London.
By Heather Rydings; [email protected]
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