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Taptica To Meet Profitability Expectations Despite Some Revenue Drop

Thu, 13th Jun 2019 17:38

(Alliance News) - Taptica International Ltd on Thursday said it is on track to achieve market expectations for profitability despite lower revenue from performance-based advertising.

Shares in advertising and mobile marketing technology company Taptica closed up 3.1% at 101.00 pence.

Taptica also announced that, at its annual general meeting, shareholders had approved its name change to Tremor International Ltd.

Speaking at the company's AGM, Non-Executive Chair Tim Weller said trading in the first five months of its financial year has been mixed, with performance-based advertising activities generating lower revenue than the year before.

However, the company's brand advertising platform has traded well and its margin has improved in a sustainable way and the company believes it will meet market expectations in terms of profitability.

As a result of its April merger with RhythymOne PLC, Taptica is now expecting around USD20 million of cost savings and synergy benefits in its current financial year, with RythmOne expected to start contributing meaningfully to Taptica's bottom line the year after.

At present, Taptica's cash position is around USD70 million, following a USD15 million share buyback programme.

Weller said: "2019 was always going to be a year of integration and reorganisation. As highlighted above, I'm pleased to report our teams have already made substantial progress. The strategic rationale for the merger remains strong and in the best interest of shareholders, as such the board remains optimistic in the medium term."

On Tuesday, Taptica said ride share and food delivery company Uber had filed a complaint against Taptica and other companies alleging unfair competition, fraudulent concealment, and negligence. Taptica believes Uber's claims are without merit.

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27 Mar 2024 06:59

IN BRIEF: Tap Global appoints new CEO, new CFO as "streamlines" board

Tap Global Group PLC - London-based firm which offers a regulated crypto app that helps bridge the gap between traditional finance and blockchain technology by providing banking and crypto settlement services - Last week Thursday, appoints former chief strategy officer Arsen Torosian as chief executive officer, effective from that day and replacing former CEO David Carr. New CEO Torosian remains the largest shareholder of Tap Global. Further, appoints Steven Borg as chief financial officer from April 11, replacing outgoing CFO Tony Quirke. "The resignations of Mr Carr and Mr Quirke have given the company the opportunity to streamline the structure of the Tap Group board," Tap Global says.

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28 Dec 2023 12:03

Tap Global revenue surges on higher trading but loss widens

(Alliance News) - Tap Global Group PLC on Thursday said it was in "robust health" as annual revenue jumps on stronger trading, but sees its loss widen on higher costs.

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2 Oct 2023 18:40

EARNINGS AND TRADING: EDX Medical reports loss; Brandshield CFO leaves

(Alliance News) - The following is a round-up of earnings and trading updates by London-listed companies, issued on Monday and not separately reported by Alliance News:

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14 Aug 2023 11:23

Tap Global shares rise as eyes annual revenue jump, increase in users

(Alliance News) - Tap Global Group PLC on Monday gave an upbeat trading update for its financial year that ended on June 30.

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24 May 2023 14:30

TRADING UPDATES: abrdn European NAV down; Tap appoints non-exec chair

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and Wednesday and not separately reported by Alliance News:

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20 Apr 2023 16:32

Tap celebrates revenue rises in first 100 days since AQSE listing

(Alliance News) - Tap Global Group PLC said on Thursday that it had experienced significant revenue increases and expanded its user base since its first listing in January.

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22 Mar 2023 14:53

EARNINGS SUMMARY: Genel narrows loss; NAHL led by Personal Injury arm

(Alliance News) - The following is a round-up of earnings by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

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17 Mar 2023 20:53

TRADING UPDATES: Petra Diamonds sells more diamonds amid price growth

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday, Augmentum Fintech and Tap Global on Monday, and not separately reported by Alliance News:

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10 Jan 2023 12:41

Tap Global starts trading as reverse takeover by Quetzal completed

(Alliance News) - Tap Global Group PLC on Tuesday started trading on AQSE as the reverse takeover by London-based investor Quetzal Capital PLC was completed.

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25 Jun 2019 14:52

Taptica Begins Life As Tremor Hoping To Shake Up Video Advertising

(Alliance News) - Taptica International Ltd on Tuesday confirmed it has renamed itself Tremor International Ltd.The move was approved at an annual general meeting earlier in the month, and

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12 Jun 2019 08:28

Taptica dragged into long-running spat between Uber and Fetch

(Sharecast News) - Advertising technology group Taptica International has been dragged into a long-running spat between ridesharing giant Uber and advertising agency Fetch.

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11 Jun 2019 10:34

Taptica Shares Plummet On US Complaint Filed By Uber; To Defend Claims

LONDON (Alliance News) - Shares in Taptica International Ltd plunged on Tuesday after the company said US transportation firm Uber Technologies Inc has filed a complaint in the Superior Court of a

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23 May 2019 13:34

Taptica International Appoints Economist Group CEO To Board

LONDON (Alliance News) - Media firm Taptica International Ltd on Thursday said it appointed Christopher Stibbs as independent non-executive director with effect from the company's annual place

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3 May 2019 09:18

Taptica earnings beat expectations in year of strategic progress

(Sharecast News) - Advertising technology outfit Taptica was successful in making some strategic progress in its last trading year, bolstered by sustained demand for its technologies from an increasingly diversified customer base.

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