(Alliance News) - Matomy Media Group Ltd said after the market close Thursday results to the end of the third quarter of 2019 saw profit jump despite revenue dropping sharply after it sold its mobile activity business.
For the nine months ended September, adjusted earnings before interest, taxes, depreciation & amortisation widened to USD4.7 million from USD2.0 million the year prior. This was despite revenue halving to USD52.7 million from USD101.0 million the year before.
"Following the sale of its Mobile activity in November 2018 Matomy operates in one segment: Domain monetization (Team Internet)," Matomy said in a statement.
Earlier in November, Matomy reported CentralNic Group PLC had agred to acquire Team Internet AG for USD48 million.
Shares in Matomy closed 8.5% lower at 2.90 pence in London on Thursday.
By Ahren Lester; ahrenlester@alliancenews.com
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