LONDON (Alliance News) - Immedia Group PLC on Tuesday reported an improved performance as it swung to a profit from a previously reported loss.
Immedia shares jumped 15% following the news with the stock trading at 28.25 pence per share.
For 2018, the multi-media content provider posted pretax profit of GBP106,204 compared with a GBP693,268 loss a year ago.
This was achieved due to revenue jumping 32% year-on-year to GBP4.7 million from GBP3.5 million and administrative costs broadly flat at GBP2.4 million.
"2018 delivered a substantial improvement in performance over the prior year in terms of revenue and profitability. Our unique mix of brand engagement and creative skills is underpinning our ability to secure new and exciting business," Chair Tim Hipperson said.
Looking ahead, Hipperson added: "2019 business activity is performing in line with our expectations while we are also witnessing a pipeline of new and exciting opportunities with several key potential clients across our target verticals."