17th Nov 2010 07:00
Full Year Trading Update Media Corporation PLC 17th November 2010 Media Corporation Plc ("Media Corp" or the "Group")("Media Corp" or the "Group") Unaudited Full Year Trading Update The Board of Media Corp, a leading advertising network and online gaming Group, ispleased to announce a trading update for the 12 month period ended 30th September2010. Financial Highlights * Revenues of £25.6 million (2009: £3.5 million) an increase of 730% * Gross profit of £6.3 million (2009: £0.9 million) an increase of 707% * EBITDA loss of £618,000 (2009: Loss of £2,404,000) a reduction of £1.8 million * Cash balances of £2.2 million (September 2009: £1.7 million) * Both of Media Corp's principal subsidiaries Purple Lounge and Eyeconomy tradedprofitably in the period Trading Highlights * Acquisition of Purple Lounge, a leading online gaming brand * Gambling.com returned to number 1 in Google's search rankings * Purple Lounge reached an important milestone of 100,000 registered customers * Purple Lounge players wagered over £380 million on poker in 2010 Justin Drummond, CEO of Media Corp, commented: "This has been a transformational year for Media Corp with record growth and a significantlyimproved financial performance. Whilst increased marketing and software costs impactedprofitability in the second half, the additional marketing spend has delivered substantialgrowth in player numbers and revenues. We look forward to updating the market inmore detail when we release our final results in March 2011. "The new financial year has started well with growth across the Group and the Boardlooks forward to the continued recovery in 2011." --ENDS-- Contacts: Media Corporation Plc Tel: +44 20 7618 9000 Justin Drummond - CEO Nilesh Jagatia - Group Finance Director Northland Capital Partners limited Tel: + 44 20 7492 4750 Luke Cairns / Rod Venables (Nomad) Katie Shelton (Joint Broker) XCAP Securities John Grant / Karen Kelly (Joint Broker) Tel: + 44 207 101 7070 Bishopsgate Communications Tel: + 44 20 7562 3350 Gemma O'Hara / Siobhra Murphy Notes to editors: Quoted on the AIM market of the London Stock Exchange, Media Corp is a leading mediaand online gaming group. The Group has two principal divisions: Advertising Network - Formed in 1996, Eyeconomy specialises in mass reach campaignsto up to 50 Million unique consumers per month via its own proprietary ad-servingand tracking technology for clients including AOL, Dell and American Express. www.eyeconomy.co.uk Website Publishing - Media Corp has a diversified publishing division specialisingin online media and gaming. The impressive portfolio of websites includes a numberof market leading websites, such as www.purple-lounge.com, www.gambling.com, www.onthebox.com,www.sport.co.uk, www.creditcardexpert.co.uk and www.flightcomparison.co.uk. Further information can be found on the company's website, at www.mediacorpplc.comRelated Shares:
MDC.L