6th Jul 2016 07:52
LONDON (Alliance News) - Taptica International Ltd on Wednesday said it had a strong end to its first half, and now expects to post first half revenue more than 47% higher than the same period a year earlier, an increase which is expected to continue into its full year.
The end-to-end mobile advertising platform said its first half to June 3 ended strongly, noting it now expects to post revenue of more than USD50.0 million, compared to the USD33.9 million reported for the same period a year earlier. As a result, Taptica said it expects its full-year revenue to be 45% higher than the prior year, in line with market expectations.
In March, Taptica reported revenue of USD75.8 million for 2015, up from USD63.1 million the year before.
Taptica said the six months ended June 30 represent the first full six months following the transition of the business to a mobile-centric offering and its acquisition of AreaOne.
Taptica noted that continued investment in technology is contributing to improved margins in its mobile business which, as an increasing percentage of Taptica's revenues, is improving overall gross margins.
The mobile business continues to be the majority contributor to revenues and, for the first half, is expected to be more than double that posted in the equivalent period in 2015. The company now expects to report gross margins for the first half of approximately 34% compared with 26% the same period a year earlier.
Shares in Taptica were up 15% at 82.50 pence on Wednesday.
By Hannah Boland; [email protected]; @Hannaheboland
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