XLMedia confirms record revenue in first half

XLMedia has announced that it was able to achieve record revenue in the six months to June 30, with profit also up at the digital marketing company.

Revenue in the first half amounted to a record $51.2 million (€45.6 million), up 39% from $36.8 million in the corresponding period last year.

The amount is slightly higher than the estimated figure stated in a trading update in July.

Elsewhere, gross profit was up 47% year-on-year to $27 million, with adjusted earnings before interest, tax, depreciation and amortisation also increasing by 37% to $17.7 million.

XLMedia also said that profit before tax grew by 20% to $15.8 million, with an interim dividend of 3.8205 cents per share up 47% on the previous year.

Ory Weihs, chief executive of XLMedia, said: “During the first six months of the year we continued to develop the business and invest in our technology platform and mobile capabilities, which further underpin our key revenue and profit drivers.

“We recently established a US subsidiary which will lead the group's development in this important territory, with a key focus being mobile applications marketing.

“US mobile advertising growth is accelerating, and presence in this important territory will drive our growth in mobile apps and additional verticals.

“We believe we have established a strong foundation which, combined with our technology investments, we expect will drive the business to maximise the growth opportunity we see across our markets.”

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