CentralNic Group PLC - London-based online marketing services - Swings to quarterly profit in the first quarter ended March 31. Pretax profit at USD7.2 million versus a loss of USD1.1 million a year ago. Quarterly profit is higher than its annual 2021 profit of USD1.6 million. Quarter-on-quarter revenue rises to USD156.6 million from USD84.4 million.
"Company's organic growth further accelerated during the period, driven by investments in new management, staff and system," CentralNic explains. Earnings per share at USD1.53 compared to a loss of US0.67 a year ago. Says trading in line with recently upgrade forecasts. Plans to issue an update for the first half-year on July 18.
"We have continued to add scale and capability through the completion of three strategic acquisitions in the period, including VGL Verlagsgesellschaft mbH, our largest acquisition to date, funded by an oversubscribed equity placing and tap bond issue," says Chief Executive Officer Ben Crawford. CentralNic bought Germany-based e-commerce services firm VGL for EUR60 million in March.
Current stock price: 138.95 pence, up 6.1% on Monday
12-month change: up 70%
By Tom Budszus; tombudszus@alliancenews.com
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