LONDON (Alliance News) - Matomy Media Group PLC Wednesday said it will continue to build its business for the long term, and remains on track to deliver on its plan, as it posted a rise in pretax profit in the half-year to end-June.
Matomy posted a pretax profit of USD6.3 million, up from USD4.2 million, as revenues rose to USD107.6 million from USD97.3 million.
Within this, revenues from its Display and Video segment rose 18% to USD70.1 million from USD59.7 million, driven by growth in its video media and display media channels. Mobile media channel revenues more than doubled to USD11.3 million from USD5.1 million due to growth in its organic mobile activity and boosted by acquisitions including MobAff LLC in 2013.
Search revenue declined 62.3% to USD4.7 million from USD7.7 million, hit by advertisers reducing outsourcing services relating to search activity and technological tracking adaptations. Social Media and Virtual Currency revenues rose to USD11.2 million from USD10.1 million boosted by its acquisition of Adotomi Ltd in 2013.
Matomy listed on the London Stock Exchange in July, after initially planning to list in March, however, it had to delay the listing as at the time it was not able to meet premium listing rules that require 25% of the shares in issue to be held by investors within the European Economic area.
Following the period end in June, the company acquired a controlling stake in domain monetisation and direct search navigation business Team Internet. Matomy said that it has begun the integration and cross selling of products and services with Team Internet, which it will continue throughout the rest of the year.
It expects synergies with Team Internet to increase and create additional growth.
Shares in Matomy were trading up 11.0% at 241.46 pence Wednesday afternoon.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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