(Alliance News) - CentralNic Group PLC on Monday said it expects interim revenue to nearly double and raised its full-year outlook.
The London-based online marketing services firm expects reported revenue to grow 92% to USD335 million in the ix months to June 30 from USD174.7 million a year ago. Further, organic revenue is set to jump 62%.
"This outperformance has largely resulted from the growth of our Online Marketing Segment, driven by increased demand for our privacy-safe online customer acquisition services," said CentralNic.
The firm sees adjusted earnings before interest, tax, depreciation and amortisation rising 85% to USD38 million from USD20.5 million.
Gross cash is anticipated to be up 68% to USD94 million at June 30 from USD56 million at December 31, 2021. Net debt is set to narrow to USD65 million at June 30 from USD81 million at the end of 2021.
Looking ahead, the company said: "While the directors remain vigilant concerning the current global macro-economic environment, the board has confidence that the group will meet at least the upper end of current market expectations for the FY22 financial year."
The firm will release its half-year results on August 30.
Separately, CentralNic said it will pay a final sum of USD1.1 million to Inter.services GmbH, which sold web services firm KeyDrive SA to CentralNic in 2018.
Following the payment, CentralNic does not owe any more money to German investment company Inter.services under the sale and purchase agreement.
"The acquisition of KeyDrive has been a catalyst for the accelerated expansion of the CentralNic Group and forms the core of our online presence segment," said CentralNic Chief Executive Officer Ben Crawford.
Keydrive is a Luxembourg-based domain registration and internet services company.
Shares in CentralNic were 6.0% higher at 119.82 pence on Monday morning in London.
By Tom Budszus; tombudszus@alliancenews.com
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