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5.00 0.00 (0.00%)

Bid:

4.80

Ask:

5.20

Spread: 0.40 (8.333%)

Market Cap: £5.90m

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Digitalbox encouraged by H1 performance

Tue, 28th Jul 2020 09:57

(Sharecast News) - Digital media business Digitalbox said on Tuesday that it had delivered an "encouraging performance" in the six months ended 30 June despite the impact of Covid-19.
As a result of its "strong operating margins", Digitalbox expects to report adjusted pre-tax profits ahead of management expectations and a doubled cash balance of £1.2m.

Revenues for the half were projected to be flat year-on-year at roughly £1.0m as a result of a sharp fall in value per session offsetting a "significantly" increased number of visits to its websites.

Chief executive James Carter said: "Our success in the first quarter positioned us to withstand the challenges presented by Covid-19.

"We remain cautiously optimistic about the second half of 2020 as big TV shows return to our screens, retail opens up again, and the economy returns to a more positive position."

As of 0955 BST, Digitalbox shares were up 4.35% at 6.0p.