(Alliance News) - CentralNic Group PLC on Tuesday said revenue in the year-to-date surged 88%, swinging the company to profit, as it benefits from a strong online marketing presence.
The London-based web domain and services provider said revenue in the nine months to September 30 surged 88% to USD526.7 million, up from USD280.6 million a year earlier.
CentralNic said its organic growth "further accelerated" during the recent period, driven by market share gains for its proprietary privacy-safe online marketing solutions.
Pretax profit was USD21.0 million in the nine months, swung from a loss of USD1.5 million year before.
The number of visitor sessions increased by 83% to 3.3 billion in the year-to-date compared to 1.8 million in the nine months to September, 2021.
Looking ahead, CentralNic said it remains "confident" in its outlook, with business trading "comfortably" in line with market expectations.
Analysts expect full-year revenue between USD687.8 million and USD709.6 million, and earnings before, interest, tax, depreciation and amortisation of between USD80.2 million and USD82.9 million. In 2021, CentralNic posted revenue of USD410.5 million and Ebitda of USD46.3 million.
CentralNic said it plans to issue a full-year trading update on January 30, 2023.
Chief Executive Ben Crawford said: "This continued strong and consistent financial performance has allowed us to refinance at a notably improved interest rate, with a syndicate of quality banks which have the means to provide ongoing support for CentralNic's growth strategy. With the sustainability of our growth proven in a recessionary environment, and endorsed by leading financial institutions, we look forward to the future with even greater confidence."
Shares in CentralNic were down 0.4% to 126.50 pence each in London on Tuesday morning.
By Sophie Rose; sophierose@alliancenews.com
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