LONDON (Alliance News) - Domain services company Minds + Machines Group Ltd on Tuesday said its domains under management rose in the third quarter, as it said revenue from its standard domains improved but its premium domain revenue fell.
The company said its domains under management at the end of September representing 3.5% of total domain names registered, up from 3.4% at the end of the second quarter in June and within its target range of 3% to 5%.
Average revenue per standard domain name improved to USD13.53, up USD3.43 from the end of June due to renewals for its .London domains and the launch of .Miami and .Law.
Average revenue per premium name, however, fell to USD179 from USD187, still within the company's target range but hit by delays to substantial premium name sales for .Law, .Abogado and .Miami.
"With the solid growth in standard names, and increasing sales of premium names, we have every reason to be confident about our second half performance as we drive towards our goal of crossing over into operational profitability in 2016," said Chief Executive Antony Van Couvering.
Shares in Minds + Machines were up 2.8% to 9.25 pence on Tuesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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