11th Jan 2016 08:50
LONDON (Alliance News) - Taptica International Ltd, a mobile advertising company formerly known as Marimedia Ltd, on Monday said it expects to beat previous market expectations for 2015 when it reports earnings.
Taptica said earnings before interest, tax, depreciation and amortisation are expected to be "slightly ahead" of market expectations, as is the amount of cash on its balance sheet at the end of that year. The company didn't say when it will publish its full 2015 results.
Full-year revenue is expected to increase by 19% over 2014, with the percentage generated by its mobile segment expected to increase to 66% of the total from 18% the prior year, while new technology and cost savings from a restructuring in the second half helped to improve margins.
Revenue amounted to USD63.1 million in 2014.
"The company has entered 2016 with its mobile offering continuing to gain traction with household-named brands and seeing expanding demand for its solutions. The business continues to diversify geographically and is experiencing sustained growth in its core database. As a result, the board remains confident of delivering good growth for full year 2016," Taptica said.
Shares in Taptica were up 6.0% at 66.25 pence on Monday morning.
By Samuel Agini; [email protected]; @samuelagini
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