(Alliance News) - CentralNic Group PLC on Monday said second quarter revenue jumped 63% from a year before to USD90 million, including "record organic growth" of 25%.
As a result, the domain name registry and registrar services firm said it expects revenue for all of 2021 year to exceed market expectations.
Shares were up 9.2% at 97.20 pence in London on Monday.
The record organic growth follows 16% organic growth for the first quarter 2021 and 9% in 2020.
As a result, CentralNic anticipates a first half revenue of USD174.3 million, up 57% from USD111.3 million a year before.
Adjusted earnings before interest, tax, depreciation and amortisation is expected to increase by 32% to USD20 million, up from USD15.1 million for the same period last year.
"The company expects to deliver revenue for the year well ahead of market expectations through our significant investment in resources, restructuring and new business, resulting in profits we expect to be comfortably in line with market expectations," said Chief Executive Ben Crawford.
Cash increased from USD28.7 million as at December 31 to USD39.5 million on June 30, while net debt marginally narrowed to USD84 million from USD85 million.
Crawford said that CentralNic expects future periods to benefit from "increasing operational leverage" once investment levels plateau.
The firm spent USD13 million on its acquisitions of Safebrands, Wando and Team Internet in the first half.
By Josie O'Brien; josieobrien@alliancenews.com
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