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LONDON (Alliance News) - XLMedia PLC Monday posted a rise in pretax profit for 2014 as revenue growth offset higher operating expenses and costs related to its listing on AIM last March, and it guided for another "positive year of growth" in 2015.
The digital marketing services firm posted a pretax profit of USD13.2 million, up from USD11.7 million in 2013, as a rise in revenue to USD50.7 million from USD34.5 million was offset by higher operating expenses and costs related to its initial public offering.
XLMedia proposed a final dividend of 1.567 cents per share, taking its total dividend for the year to 3.156 cents, up 14% from 2.768 cents in 2013, which the company said was in line with its progressive dividend policy.
Revenue growth was boosted by acquisitions, including its buy of social and mobile gaming marketing company ExciteAd Digital Marketing Ltd last September. Its Media segment revenue more than doubled to USD20.6 million from USD10.1 million, bolstered by ExciteAd which contributed USD6.0 million in revenue.
Publishing segment revenue rose to USD24.0 million form USD18.8 million, mostly through organic growth as it saw strong demand in the Scandinavian markets, and some contributions from assets it acquired in the second half of the year.
Operating expenses increased to USD13.0 million from USD8.5 million as the company increased investment in its infrastructure and launched new products.
The company said it will continue to evaluate acquisition opportunities.
"The board remains confident that through a combination of XLMedia's market leading position in performance based marketing, our proprietary technology platforms and broad customer base, we will continue to generate further value for our shareholders," the company said in a statement.
Shares in XLMedia are trading down 3.3% at 68.66 pence Monday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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