LONDON (Alliance News) - Digital advertising platform company Crossrider PLC on Friday said it expects to report earnings in line with market expectations for 2014 on the back of growth in its web division and progress in its app distribution business.
The company said it expects revenue for the year to December 31 to be USD71 million and expects its earnings before income, taxation, depreciation and amortisation to be in line with market expectations. Market estimates for the company were revised higher in December after Crossrider said it expects better-than-anticipated trading for year on the back of growth in its service offering.
Crossrider said the strong organic growth in the business has been driven by its web division and by its app distribution business. It said its mobile arm has also continued to grow revenue in line with expectations and said it has made progress on developing capabilities for its Ajillion ad-serving and ad-exchange platform.
"The group's portfolio of products and services continues to perform strongly. In particular its web extensions and app distribution divisions have traded above expectations therefore creating additional firepower for us to focus on the opportunity presented by our mobile strategy," said Crossrider Chief Executive Officer Koby Menachemi.
Shares in Crossrider were up 1.4% to 107.95 pence on Friday morning.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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