(Sharecast News) - Location Sciences Group edged upward on Thursday after reporting that trading "remained strong" in December and has begun the current year in line with expectations.
A successful November fundraising has allowed the company to expand its team in North America and, at the Consumer Electronics Show (CES), enjoy a soft launch of its location ad-fraud detection platform, Verify, which checks that data about consumers' locations is genuine.
Warren Zenna, president of US sales, said: "CES was an opportunity for us to demonstrate to brands and agencies how we can help them to optimise their location-based ad campaigns. The size of the US market makes it a high priority for us and we are looking forward to delivering strong results as part of the paid-for trials."
Paid-for trials are now underway with US brands, agencies and location intelligence data providers, which the AIM traded company expects will lead to "always on" contract in a similar manner to prior trials in the UK.
Mark Slade, chief executive of Location Sciences, said: "The speed at which brands and agencies in the US are willing to test Verify demonstrates both the awareness of location ad-fraud and the need for full transparency across their location-based advertising campaigns. The traction and interest in this new disruptive technology sets us up for an extremely positive year ahead."
Location Sciences' shares were up 2.22% at 2.30p at 1045 GMT.