LONDON (Alliance News) - Kape Technologies PLC on Tuesday said it expects annual earnings to rise on the prior year after it performed "strongly" in 2018.
The company expects earnings before interest, taxes, depreciation and amortisation to be USD10.4 million, 25% higher than the previous year's USD8.3 million.
Revenue is, however, forecast to drop to USD56.4 million from USD66.4 million as a result of the divestment of the firm's Media business.
Revenues for the group's App Distribution segment, which is now Kape's core focus, are anticipated to be USD52.1 million, 8% higher than USD48.2 million a year ago.
"The board is pleased with Kape's strong performance during the year. The group has entered 2019 with increasing demand for its products and expects to continue this growth trajectory in the medium term," the company said.
Kape shares were trading down 2.7% at 107.00 pence each on Tuesday.
