26th Jul 2021 12:14
(Alliance News) - XLMedia PLC on Monday reported a rise in first half revenue and backed guidance for full-year growth.
Revenue for the six months ended June 30 was approximately USD32.0 million, the marketing company said, a rise of 16% year-on-year from USD27.7 million.
Earnings before interest, tax, depreciation and amortization was USD2.9 million, down 17% year-on-year from USD3.5 million.
The London-based company reiterated its guidance issued in May of revenue for all of 2021 to land between USD65 million and USD70 million, potentially up 28% from USD54.8 million in 2020 but still below pre-pandemic levels of USD79.7 million in 2019.
The integration and commencement of a number of marketing initiatives across the company's US sports assets continues to gather momentum, with increased levels of traffic reported across all sites since their acquisition. The US Sports vertical is "well-placed" to benefit from the US sports season in the second half.
XLMedia acquired US-based sports gaming and betting business CBWG Sports and completed the takeover Of 101GreatGoals.com in 2020.
"The company continues to make good progress in the current financial year, buoyed by a consistent performance in the Personal Finance vertical, record organic growth in the European Sport vertical and a positive impact from the recently acquired US Sports vertical. However, this progress is partially offset by the Casino vertical's performance, where tail revenues continue to deteriorate and new revenue is being built from a smaller existing asset base," it said.
Meanwhile, the digital marketing company continues to actively evaluate acquisition opportunities, it said.
Shares in XLMedia were down 1.5% to 53.67 pence each in London on Monday morning.
By Amrit Sahota; [email protected]
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