XLMedia records £8m H1 profit
Performance marketing firmâs trading update reveals a predicted 87% year-on-year rise in EBITDA
XLMedia recorded an 83% year-on-year rise in revenues during H1 with an 87% rise in EBITDA to US$12m (£7.7m) profit as the egaming performance marketing firm looks to expand the business even further with new acquisitions.
In a trading update this morning, the AIM-listed firm reported revenues of not less than $36.4m (£23.4m) for the six months ended 30 June 2015 with the rise in revenues and profits the result of a combination of organic growth and acquisitions it completed during the six-month period.
âWe are delighted with the strong financial performance the group has delivered in the first half of 2015,â Ory Weihs, CEO of XLMedia, said.
âWe closed two acquisitions during this period which enhanced our mobile capabilities and we look forward to generating additional revenue streams as these businesses are fully integrated into the group,â he added.
Last month the firm announced it had bought a majority stake in web and mobile marketing company Marmar Media in a deal worth up to $7.36m (£4.72m), one month after acquiring a series of mobile-facing websites, and Weihs hinted XLMedia had identified additional acquisitions targets.
âWe see numerous opportunities for consolidation and hence we continue to evaluate additional businesses which are a good fit for the Group,â he said.
âFurther acquisitions will expand our geographical and operational footprint, address new vertical end markets and deliver shareholder value,â Weihs added.