MTMY.L Share News (MTMY)

LONDON (Alliance News) - Matomy Media Group Ltd on Monday reported a narrowed loss as the advertising firm continued to sell off its non-core activities to focus on domain monetization.

For 2018, Matomy Media reported a pretax loss of USD3.3 million, narrowed from USD16.3 million the year before, due to lower operating expenses at USD27.2 million compared with USD58.6 million.

There was also a drop in direct media costs at USD61.4 million from USD131.4 million the prior year.

Revenue for the year fell by more than half to USD88.7 million from USD194.4 million the prior year, as Matomy disposed of non-core activities and "revenue sources no longer compliant with key partners' requirements". Domain Monetisation revenue declined by 28% to USD75.6 million from USD105.4 million in 2017 as some business was rejected by a key partner's "more stringent compliance requirements".

During the year, Matomy sold off its e-mail, video and mobile advertising platforms, including the Optimatic video platform in June, the myDSP media buying platform in July, the Whitedelivery email platform in August and the Mobfox supply side mobile advertising platform in November.

"Matomy underwent a number of changes in 2018, including a shift in focus and management. Under the leadership of Liam Galin, the company exited all activities that were sapping resources from the profitable domain monetization activity. The results published in this report validate these steps and today Matomy is well positioned to move forward as the leading innovative force in the domain monetization marketplace," said Chair Sami Totah.

Shares in Matomy Media were up 6.4% at 6.01 pence on Monday.