14th Oct 2019 08:52
(Alliance News) - Marketing services provider System1 Group PLC on Monday guided a 24% year-on-year jump in first half adjusted pretax profit and said that it continues to invest in its AdRatings business.
System1 shares were up 7.1% at 195.00 pence each in London.
For the six months to September 30, the company forecasts normalised pretax profit, excluding AdRatings and share based payments, to be around GBP2.4 million, up from GBP1.9 million in the year-ago period.
AdRatings is a database showing "ratings" or "scores", of adverts in the market. System1 invested GBP1.2 million its AdRatings business during the interim period. In addition, it also continued to invest in its technology and data capability.
Interim gross profit, the company's preferred profit measure, is predicted to grow by 7% above GBP10.8 million recorded a year ago. At constant currency, gross profit is estimated to rise 4% year-on-year .
System1 said costs were well controlled in the first half and benefited from an ongoing efficiency improvement programme. Excluding investment in AdRatings business, first half operating costs are estimated to rise by 3%.
System1 is slated to release its first-half results on November 7.
By Tapan Panchal; [email protected]
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