LONDON (Alliance News) - Media and marketing analytics provider Ebiquity PLC Wednesday reported a drop in profits despite revenue growth in its last financial year, after booking a number of costs associated with recent acquisitions.
The company reported a lower pretax profit of GBP3.4 million for the financial year ended April 30, down from GBP6.6 million the prior year, which it said was due to costs relating to office moves and recent acquisitions, having acquired Stratigent LLC and China Media Consulting Group Ltd during the year.
However, on an underlying basis - which strips out those costs - the company's profit rose 7%, which it said was down to revenue growth and a well-managed cost base.
Revenue in the year increased to GBP68.5 million, up from GBP64.0 million the prior year.
"We have put the necessary building blocks in place to accelerate our international business, especially in the US and Asia. We begin the new year with a high level of visibility on revenue potential which gives us confidence about the year ahead," said Chief Executive Michael Greenlees in a statement.
Ebiquity shares were flat Wednesday at 120.50 pence.
By Rowena Harris-Doughty; firstname.lastname@example.org; @rharrisdoughty
Copyright 2014 Alliance News Limited. All Rights Reserved.