4th Apr 2019 12:10
LONDON (Alliance News) - mporium Group PLC on Thursday said it expects to achieve a break-even during 2019 as it sees "outstanding" growth following introduction of new MporiumX division.
The marketing technology company said it has experienced significant growth in the first quarter of 2019 driven principally by the introduction of its new business division, MporiumX, in November last year.
The new division was created to use mporium's technology to drive digital advertising campaigns, on a pay-for-performance basis. The AIM-listed company said growth in the MporiumX division is driven by recently signed commercial agreement with an undisclosed sports media business.
The company noted that revenue booked to the end of February exceeded GBP5.4 million, of which the vast majority was generated through MporiumX.
Meanwhile, in the company's Agency division, adoption of the IMPACT technology platform among mporium's clients is growing and is also expected to contribute significantly to the 2019 results.
IMPACT enables companies to improve performance for digital advertising campaigns.
Looking ahead, the company reiterated its target of earnings before interest, taxes, depreciation, and amortization breakeven during 2019, encouraged by greater than expected revenue growth in MporiumX.
"This has been a transformational period for Mporium and we face the year ahead with increased optimism," said mporium Chief Executive Nelius De Groot.
mporium said it will publish its 2018 results in May.
The stock was trading 6.7% lower on Thursday at 5.23 pence a share.
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