30th Nov 2020 10:47
(Alliance News) - Tremor International Ltd on Monday announced it has increased its guidance for its financial year after record trading in October and November.
Tremor shares were up 26% at 289.00 pence each in London on Monday morning.
The San Francisco-based data-focused marketing solutions provider said it has seen strong organic growth in the six months ending December 31, with October and November revenues being the "highest in the company's history".
As a result, Tremor expects trading for the financial year to be "significantly" ahead of expectations.
Tremor now expects a full-year revenue of between USD390 million and USD400 million, up from the previously expected revenue of between USD340 million and USD360 million, which was announced in October.
Adjusted earnings before interest, tax, depreciation and amortisation is now expected to be between USD50 million and USD52 million, up from the previously expected USD30 million to USD36 million.
"The significant sales traction that the company continues to generate is underpinned by organic growth initiatives anchored within Tremor's most meaningful growth engines: Connected TV, Self-Serve and Private MarketPlace solutions, which have become integral to the company's rapid growth," Tremor said.
The current growth trend is expected to continue, Tremor said.
By Greg Roxburgh; [email protected]
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