XLMedia has expanded on its initial results for the months through to June 30 by unveiling further growth across key financials during the period.
As reported by iGaming Business, XLMedia in July announced a “strong” set of preliminary results for the first half, with revenue increased by 83% on a year-on-year basis to $36.4 million (€32.7 million).
XLMedia has expanded on these initial results, declaring slightly higher revenue of$36.8 million in the first half, which represents a year-on-year increase of 85%.
Gross profit jumped by 63% to $18.4 million, while profit before tax rocketed by 187% to $13.2 million.
Elsewhere, adjusted earnings before interest, tax, depreciation and amortisation hiked 103% to $12.9 million, with net cash from operating activities up 111% to $12.1 million.
XLMedia concluded the first half with an interim dividend of $5 million, which translates to 2.595 cents per share, as well as a balance sheet of $43.2 million cash and short-term investments.
“During the first six months of the year we continued to develop the business and invest in our main technology and mobile capabilities, which further underpin our key revenue and profit drivers,” XLMedia chief executive Ory Weihs said.
“We made significant progress with executing our strategic plan, with acquisitions of performance marketing companies as well as bolt on publishing assets.
“These acquisitions complement the group’s existing business and add diversification through the addition of more clients, products, regions and marketing channels.
“We believe we have a set of strong foundations underpinning the growth potential of our business and we look forward to reporting on our continued progress.”
source : www.igamingbusiness.com
