19th Jun 2018 09:37
LONDON (Alliance News) - Shares in Taptica International Ltd rose early Tuesday after the company said 2018 earnings will be moderately ahead of market expectations due to continuation of positive sales momentum, an increased Tier 1 client base, and a higher contribution from international offices, primarily in the Asia-Pacific region.
Shares were trading 15% higher at 319.15 pence in morning trade in London.
The mobile advertising technology provider said it expects adjusted earnings before interest, taxes, depreciation and amortisation for 2018 to be moderately ahead of market expectations and revenue growth in line with market estimates, on the back of a moderately higher-than-expected Ebitda margin.
Taptica said it continues to evaluate acquisition opportunities, a key element of the company's growth strategy.
In 2017, the company recorded adjusted Ebitda of USD34.2 million and revenue of USD210.9 million. Pretax profit stood at USD17.3 million.
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