LONDON (Alliance News) - Internet domain name owner and operator Minds + Machines Group Ltd on Wednesday expressed confidence in its outlook amid encouraging use of its domains in the US and Europe and following Chinese approval for its .Vip domain name.
Chief Executive Toby Hall, in a statement to be made at Minds + Machines' annual general meeting on Wednesday, said the .Vip approval has underpinned the outlook for the company in China and test initiatives using its domains in Europe and the US in the fourth quarter of 2016 have been encouraging.
Hall said Minds + Machines restructured over the course of 2016, which will result in an operating loss in 2016, but he said the company is now earnings before interest, tax, depreciation and amortisation positive on an ongoing basis, a trend he expects to continue into 2017.
The firm said it will issue a trading statement for the 12 months to the end of December on January 23.
Minds + Machines shares were flat at 11.00 pence on Wednesday.
By Sam Unsted; samunsted@alliancenews.com; @SamUAtAlliance
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