12th May 2014 10:45
LONDON (Alliance News) - Digital marketing company XLMedia PLC Monday expressed confidence in seeing further growth in 2014, after it saw profit rise in 2013, its first set of results since floating on the AIM market in March.
The company proposed a maiden dividend of USD0.02768 per share for the year.
XLMedia posted a pretax profit of USD11.6 million for 2013, up from USD7.9 million in 2012, as revenue rose to USD34.5 million from USD17.7 million, driven by a strong performance in its Content and Search business.
The Content and Search business posted revenues of USD18.8 million, up from USD14.9 million in the previous year, as traffic to the company's websites increased and it launched new sites.
Its Media Buying business posted revenues of USD10.1 million, up from USD8.1 million in the previous year, boosted by the addition of new media channels.
XLMedia raised USD69.5 million in its initial public offering in March, which it said would be used for country-specific joint ventures, accelerating organic growth, expanding into new territories and continued investment in research and development.
The company expanded into North America in November 2013, and said that whilst its US operations were at an early stage of development, it was confident that opportunities exist for it to expand its market presence in the region. The company highlighted the re-opening of the US online gambling market in Delaware, Nevada and New Jersey, as a potential driver for growth.
XLMedia said 2014 had started well, as it saw strong sales growth in its core European market.
"The business remains well placed to build on the growth experienced during 2013 as we look to continue our growth ambitions and diversify our geographic spread," said Chief Executive Ory Weihs in a statement.
Shares in XLMedia were trading down 9.0% at 73.25 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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