(Alliance News) - CentralNic Group PLC on Wednesday said underlying business growth and acquisitions pushed earnings up in 2019.
The domain name and web services provider, in a trading update, said revenue grew by 95% in 2019 to USD109 million, with fourth quarter revenue totalling USD32 million.
CentralNic said adjusted earnings before interest, taxes, depreciation, and amortization also increased by 95% to USD18 million in 2019 as compared with USD9.1 million in 2018. Fourth-quarter adjusted Ebitda was USD5 million.
The AIM-listed company highlighted that its revenue growth was in line with market expectations, while earnings growth beat consensus forecast.
"I am delighted that CentralNic has again nearly doubled its revenue in 2019, repeating this achievement in five out of the past six years. This has been achieved through a combination of earnings accretive acquisitions and steady underlying growth across our businesses," said Chief Executive Ben Crawford.
He added: "This result is particularly pleasing as the four acquisitions we completed in the course of 2019 will only now unfold their full year impact."
The company said it will release its full 2019 results the week of April 27.
CentralNic shares were trading 2.9% higher in London on Wednesday at 89.00 pence each.
By Evelina Grecenko; evelinagrecenko@alliancenews.com
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