XLMedia boasts strong first half

Business News

For the half year to the end of June, XLMedia reported pretax profit of USD19.5 million, up from USD15.8 million the prior year, on revenue of USD67.9 million, up from USD51.2 million.

The digital marketing services firm proposed an interim dividend of 4.0226 cents per share, up 5% from 3.8205 cents the prior year.

In 2017 to date XLMedia has completed USD24.3 million of acquisitions, including two North American financial services comparison websites and a US security comparison website, as it looks to diversify its revenue base into new areas and geographies.

Publishing revenue rose 40% in the half, with organic growth of 32% bolstered by acquisitions. Meanwhile, Media revenue rose 40%, with growth primarily driven by mobile performance marketing platform ClicksMob, which also helped the company see its first significant revenue from Asia, it said.

“We are delighted to report another record period of strong profit growth for the group. The combination of both organic and acquisitive growth has accelerated our progress extending our business into new verticals and new geographic regions,” said Chief Executive Officer Ory Weihs in a statement.

“Current trading remains strong and we are confident that the ongoing implementation of our strategic focus will continue to yield excellent results, underpinning the board’s ongoing confidence in the company’s near and medium term prospects,” Weihs added.