The latest Investing Matters Podcast with Jean Roche, Co-Manager of Schroder UK Mid Cap Investment Trust has just been released. Listen here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picks7DIG.L Share News (7DIG)

  • There is currently no data for 7DIG

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

7digital Revenue Shift Has Boosted Margins, Good Pipeline In Place

Thu, 09th Jul 2015 07:23

LONDON (Alliance News) - Digital music and radio services company 7digital Group PLC on Thursday said it expects to post a 3% rise in revenue for the first half as its licensing sales replace revenue from downloaded music sales.

7digital said it expects revenue of GBP5.2 million for the half, but expects technology licensing revenue to rise by around 27% to GBP3.1 million.

The shift in its revenue mix has resulted in an improvement in margins, as the licensing sales are done at higher margins than the downloaded music. It expects its gross margin to rise to more than 60% in the half, up from 49% a year earlier, adding its costs remain in line with its expectations.

The group also has a robust pipeline in place and said it has won a number of new contracts recently, with contracts won in the last three months worth a total of GBP1.9 million to the company.

In a separate statement on Thursday, 7digital also said it has appointed Pete Downton as an executive director. Downton worked for chipmaker Imagination Technologies Group PLC in the past but joined 7digital as chief commercial officer in June last year.

7digital shares were up 11% to 17.11 pence in early trade, one of the best performers in the London Main Market.

By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance

Copyright 2015 Alliance News Limited. All Rights Reserved.

More News
25 Oct 2021 12:15

IN BRIEF: 7digital Group secures contracts worth GBP1 million total

IN BRIEF: 7digital Group secures contracts worth GBP1 million total

Read more
25 Oct 2021 10:57

7digital signs contracts with new and existing customers

(Sharecast News) - Digital music solutions firm 7digital said on Monday that it had signed contracts with new and existing customers worth a total of £1.0m over the term of the contracts.

Read more
18 Oct 2021 15:20

7digital expands Investec facility by £1m

(Sharecast News) - Digital music service provider 7digital announced a £1m increase to its revolving credit facility with Investec Bank on Monday, bringing the total facility to £2m.

Read more
18 Oct 2021 15:12

TRADING UPDATES: Mind Gym revenue recovers; Dispersion buys Accru

TRADING UPDATES: Mind Gym revenue recovers; Dispersion buys Accru

Read more
30 Sep 2021 11:30

AIM WINNERS & LOSERS: Made Tech Group rises 19% on market debut

AIM WINNERS & LOSERS: Made Tech Group rises 19% on market debut

Read more
30 Sep 2021 11:02

IN BRIEF: 7digital Group loss widens, contract delays stifle earnings

IN BRIEF: 7digital Group loss widens, contract delays stifle earnings

Read more
27 Jul 2021 19:49

TRADING UPDATES: Robert Walters delivers record performance; FRP grows

TRADING UPDATES: Robert Walters delivers record performance; FRP grows

Read more
14 Jul 2021 14:46

TRADING UPDATES: Numis boosted by busy IPO market; Cora spots gold

TRADING UPDATES: Numis boosted by busy IPO market; Cora spots gold

Read more
7 Jul 2021 22:11

TRADING UPDATES: Cohort wins Italian navy contract; Beximco waits

TRADING UPDATES: Cohort wins Italian navy contract; Beximco waits

Read more
30 Jun 2021 12:30

TRADING UPDATES: Esken sales drop, loss widens as Carlyle deal awaited

TRADING UPDATES: Esken sales drop, loss widens as Carlyle deal awaited

Read more
3 Jun 2021 19:20

BUSINESS UPDATES: HSBC issues notes; discoverIE reports profit fall

BUSINESS UPDATES: HSBC issues notes; discoverIE reports profit fall

Read more
3 Jun 2021 11:04

7digital venture to offer artist non-fungible tokens

(Sharecast News) - Digital music technology company 7digital said on Thursday that its eMusic Live joint venture would become the first music livestream platform to offer artist non-fungible tokens (NFT) alongside ticketed events running on the platform.

Read more
21 May 2021 17:51

TRADING UPDATES: Arkle spots gold; SDCL seals USD177 million buy

TRADING UPDATES: Arkle spots gold; SDCL seals USD177 million buy

Read more
4 May 2021 19:13

TRADING UPDATES: Supreme annual revenue jumps; Pelatro in Asia deal

TRADING UPDATES: Supreme annual revenue jumps; Pelatro in Asia deal

Read more
1 Apr 2021 20:28

IN BRIEF: 7digital and eMusic Live to show Alfie Boe & Friends

IN BRIEF: 7digital and eMusic Live to show Alfie Boe & Friends

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.