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LONDON (Alliance News) - Digital marketing services company Jaywing PLC on Wednesday reported a swing to a pretax profit for its first half, and said that trading in its second half is in line with its expectations.
For the half year to end-September the company reported a pretax profit of GBP162,000, swung from a pretax loss of GBP1.3 million a year before, as a slight fall in revenue to GBP17.1 million from GBP17.3 million was offset by lower amortisation.
Jaywing said had made an "encouraging start" to its financial year. In its Agency Services segment, earnings before interest, tax, depreciation and amortisation was up 10% compared to the second half of 2015, with Ebitda margin also improving to 15.8% from 14.5%, as the company secured a number of new business wins.
In the Media and Analysis segment gross profit was up 5.9% compared to the previous year, although investment led to a 4.2% reduction in Ebitda.
"The first half of the financial year has been one of further progress for Jaywing. The business continues to grow gross profit and remains profitable and cash generative. Jaywing's investment in product development is showing positive outcomes. We continue to progress our strategic objectives including the provision of increasingly integrated services to our clients with data science at their core," said Chairman Ian Robinson in a statement.
Shares in Jaywing were down 3.0% at 32.00 pence Wednesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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