21st Sep 2015 08:23
LONDON (Alliance News) - XLMedia PLC Monday said it is "extremely" confident it will meet expectations for its full year and sweetened its interim dividend, as it reported a more than doubling of pretax profit for its first half.
XLMedia proposed an interim dividend of 2.595 cents per share, up 39% from 1.58 cents per share a year before.
The digital marketing services company reported a pretax profit of USD13.2 million, up from USD4.6 million a year before, as revenue rose to USD36.8 million from USD19.9 million. It attributed its performance to strong organic growth, a boost from acquisitions, and lower expenses falling in to its first half than it had expected.
Revenue growth was bolstered by the consolidation of its acquisition EDM, acquired last September, and growth across all of its business segments.
XLMedia said it continued to trade strongly into its second half. Following the period end it acquired a majority stake in Tel Aviv-based web and mobile media company Marmar Media Ltd for USD7.4 million.
"We are delighted to report another record breaking six months. During the first six months of the year we continued to develop the business and invest in our main technology and mobile capabilities, which further underpin our key revenue and profit drivers," said Chief Executive Officer Ory Weihs in a statement.
"We believe we have a set of strong foundations underpinning the growth potential of our business and we look to reporting on our continued progress," Weihs added.
Shares in XLMedia were up 4.6% at 72.43 pence Monday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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