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13.50 0.50 (3.85%)

Bid:

13.00

Ask:

14.00

Spread: 1.00 (7.692%)

Market Cap: £7.38m

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Velti continues strong growth

Thu, 02nd Jul 2009 09:20

Mobile marketing and advertising group Velti said it has continued to achieve strong growth in revenue and profits for the half-year. Total revenues are expected to exceed €20m and net revenues (revenues minus third-party costs) to increase by more than 50%, over the comparable period last year, which will deliver higher margins. "The board is pleased by the financial performance in the first half of 2009. Velti's revenues have traditionally been stronger in the second half. The board is confident that this seasonality will continue and the company is on course to post a further year of profitable growth," it said.The group said the momentum in revenue growth reflects increasing repeat business from existing clients, as well as significant new client wins across its various regions.