LONDON (Alliance News) - Taptica International Ltd on Tuesday reported a rise in profit in the first half of 2018 helped by a video platform acquisition.
Taptica shares were trading 8.7% higher on Tuesday at 375.00 pence each.
The advertising technology firm said pretax profit for the six months to the end of June rose to USD14.2 million from USD10.3 million reported for the same period a year before, as revenue more than doubled to USD144.0 million from USD65.6 million.
Taptica said the result was driven by expanded international presence and successful acquisitions.
Revenue generated by Taptica's performance-based marketing business - its original business prior to the recent acquisition - increased by 9.9% in the first-half to USD72.1 million, reflecting strong growth in the core mobile business.
By geography, the performance-based marketing growth was driven by the significant contribution to revenue from the company's expanding international presence, particularly in Japan where Taptica operates through its majority-owned subsidiary Adinnovation Inc.
The company also generated higher revenue in China due to the addition of a number of new customers.
In the UK, the increase in revenue was primarily helped by a partnership with one of Europe's advertising agencies.
In August last year, Taptica bought video platform Tremor Video DSP, which generated revenue of USD71.9 million in the first-half due to an increase in average spend per advertiser.
The company declared a maiden dividend of USD0.0398 per share.
"Looking ahead, we entered the second half with increased momentum in both the Tremor Video DSP and performance-based businesses, which continue to execute on their strategies of expanding their reach and winning new customers," said Chief Executive Hagai Tal.
"As a result, we expect Ebitda for full year 2018 to be ahead of market expectations," added Tal.