CNIC.L Share News (CNIC)

(Sharecast News) - Domain registrar Centralnic said on Monday that it had recorded revenues of roughly $90.0m in the three months ended 30 June, driven by the effects of its "significant investment programme".
Centralnic said its quarterly revenue performance represented a 63% year-on-year increase in reported revenue and a record organic growth of around 25% during the three-month period.

As a result, Centralnic now expects interim revenues to come to $174.0m and adjusted underlying earnings to reach $20.0m for the first half of the 2021 trading year - a 56% and 32% increase, respectively.

The AIM-listed firm added that cash increased to $39.5m from $28.7m on 31 December 2020, while net debt decreased to $84.0m $85.0m over the same period.

Chief executive Ben Crawford said: "CentralNic has enjoyed a very strong second quarter across both our digital subscriptions products and our privacy enabled online marketing technologies - achieving record organic growth of 25%, following 16% organic growth for the first quarter 2021 and 9% for the full year 2020.

"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. As our investment levels plateau, we expect future periods to benefit from increasing operational leverage."

As of 1030 BST, Centralnic shares had surged 10.02% to 97.92p.