TMCnet News
XLMEDIA shows more revenues and more deals(City A.M. (UK) Via Acquire Media NewsEdge) AIM-LISTED online gaming marketing group XLMedia is expected to report a nearly 25 per cent jump in revenues this morning, higher than the 22 per cent it forecast in July, when it publishes its maiden set of interim results. Jersey-based XLMedia has been on a spending spree since it floated, completing a number of acquisitions. Today the firm is expected to reaffirm its goal of doing further deals this year. Its deals so far include buying an unnamed leading UK sports betting website for £4m last month, social and mobile gaming marketing firm ExciteAd Digital for £11.4m earlier this month and upping its stake in its Finnish joint venture to 92 per cent for $1.49m (£915,000) this week. Higher operating expenses, including those linked to the costs of listing in March, are expected to lead to a fall in profits of over 30 per cent during the six months to 30 June. Excluding these costs, however, gross profit should top $11m showing around 10 per cent growth compared to the same period in 2013. In line with the company's reported strategy of returning at least 50 per cent of its retained profits to shareholders, a total interim dividend of around $3m will be declared. (c) 2014 City A.M. |