31st Mar 2015 08:25
LONDON (Alliance News) - Technology firm InternetQ PLC Tuesday expressed confidence for continued strong growth in 2015 and beyond, as pretax profit rose slightly in 2014 on the back of higher sales of its mobile marketing and digital entertainment products partly offset by higher expansion costs.
The company posted a pretax profit of EUR9.3 million, up from EUR9.0 million in 2013, as revenue rose to EUR132.4 million from EUR104.4 million, driven by substantial sales growth in both its mobile marketing and digital entertainment businesses thanks to the increasing adoption of smart devices and a shift towards mobile advertising.
However, the revenue rise was partly offset by higher cost of sales and operating expenses due to costs from acquisitions and expanding into new geographies. InternetQ further expanded into Latin America through its acquisition of UpMobile Corp in Mexico during the year, and also invested heavily in enhancing its technology offering, launching new platforms with additional features and functionality.
"We have made a solid start to 2015. With the strong foundations that we have secured and the significant future growth opportunities available to the company, the board is confident of delivering further growth in 2015 and beyond," the company said in a statement.
Still, shares in InternetQ were trading down 3.4% at 342.93 pence Tuesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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