CentralNic Group PLC - domain name registry and registrar services firm - Pretax loss in six months to June 30 widened to USD1.4 million from USD1.1 million the year before. Revenue more than doubled to USD111.3 million from USD49.7 million. Administrative expenses rose to USD29.2 million from USD16.8 million.
Chief Executive Ben Crawford said: "In the first half of 2020 CentralNic's revenue exceeded our full year performance in 2019. These outstanding results not only demonstrate that CentralNic can source and complete transformative acquisitions, but that it can also integrate them successfully while delivering record organic growth. Moreover, as we scale up rapidly, the underlying qualities of high recurring revenues and excellent cash conversion become increasingly meaningful.
"Our pipeline of future deals remains strong, while our net debt level remains comfortable particularly given the profitability of the existing CentralNic and the expected contribution from recent acquisitions. We have also brought a number of new senior managers onboard to drive our organic growth, and we are confident in continuing our trajectory towards joining the ranks of the global leaders in our industry."
Current share price: 89.75 pence
Year-to-date change: down slightly from 90 pence
By Paul McGowan; paulmcgowan@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
