XLMedia claims ‘strong organic growth’ in first half
XLMedia has revealed that it performed ahead of management expectations in the first half of the year and was able to deliver “strong organic growth” across all business verticals.
In a trading update, the company said it continued to execute on its strategy of “diversifying its revenue streams”, which in turn resulted in business growth.
During the six months to June 30, XLMedia was able to complete the acquisitions of mobile performance marketing platform Clicksmob and Canadian credit card comparison website Greedyrates.ca.
The firm has said that the integration both companies is progressing according to plan, with both acquisitions “performing well and in line” with management expectations.
In addition, XLMedia said that its recent acquisition of Securethoughts.com, a US cyber security comparison website, will also add more diversification and boost its presence in the US market.
XLMedia currently generates 57% of revenue from gambling related activities, which is down from 70% in the same period last year, while the remaining 43% is derived from non-gambling verticals such as gaming, mobile applications, software, utilities, e-commerce and finance.
The company said this change in business activity is evidence that the group is successfully delivering on its strategy “to continue to diversify revenue sources” and its board is “extremely confident in the performance of the business”.
XLMedia expects to post its full financial result for the first half in September.
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