LONDON (Alliance News) - dotDigital Group PLC shares spiked on Thursday as the company said it expects annual revenue to grow by 35%.
Shares in the omnichannel marketing platform provider were trading 16% higher at 85.00 pence each.
For the year ended June 30, revenue is expected to grow to GBP43.1 million from GBP32.0 million year-on-year.
Adjusted earnings before interest, taxes, depreciation and amortisation and operating profit are expected in line with market views.
In the first half of the year, the company said that revenue in Europe, Middle East and Africa, was hit by delays in customer spending, ahead of the implementation on new privacy laws.
However, the company said that it has seen "no material impact on either email volumes or recurring revenues from existing clients" after the General Data Protection Regulation implementation.
In the US, revenue increased by 42% to USD7.1 million from USD5.0 million year-on-year, driven by strategic partnerships and increased resourcing, the company added.
The Asia Pacific region saw revenue 83% higher to AUD2.2 million, or GBP1.2 million, from AUD1.2 million last year.
dotDigital Group (DOTD)