30th Sep 2013 07:56
LONDON (Alliance News) - InternetQ PLC Monday posted increased revenue in the half-year ended June 30, although it widened losses as it continued to invest in product development and completed its acquisition of Atlas Interactive.
The mobile and digital entertainment and marketing company posted revenues of EUR43.0 million, increased from EUR32.8 million in the previous year. It posted a pretax loss of EUR3.3 million, widened from EUR1.7 million. The company said it had continued to invest in product development, and has focused on selective bolt-on acquisitions.
The company said that its pipeline had been boosted by big name partnerships in the marketplace. Its acquisition of Atlas Interactive in Germany would help to accelerate its network expansion, InternetQ said, and bring it closer to more than 300 mobile operators. It expects Atlas to be earnings enhancing in its first year.
"InternetQ now has a very clear development roadmap that blends our core mobile marketing skill sets to support our leading social media and App development platforms," said Chief Executive Officer, Panagiotis Dimitropoulos, in a statement. "We remain confident of meeting market expectations for growth in revenue and earnings for the full year, whilst keeping a tight reign upon the Company's operating expenses."
InternetQ's shares were trading up 1.00 pence at 323.00 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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