(Alliance News) - Shares in video advertising firm Tremor International Ltd rose on Wednesday, after the firm said it expects an earnings climb after a "transformational" 2019.
The stock was trading 13% higher at 204.20 pence each in London on Wednesday shortly after midday.
Revenue for the year to December 31 is expected to have risen by 17% to roughly USD325 million from USD276.9 million.
Adjusted earnings before interest, taxes, depreciation and amortisation are estimated to have climbed 36% to roughly USD60 million, a performance in line with market expectations. Adjusted Ebitda in 2018 came in at USD44.1 million.
Tremor, which formerly was Taptica International Ltd, changed its name after merging with peer RhythmOne PLC.
The GBP135 million all-share tie-up was completed in April.
Tremor said: "Following completion of the merger, the board has been focused on the integration of RhythmOne and re-organising the business to concentrate on brand advertising and higher-margin activities. These activities helped to create a streamlined end-to-end and efficient solution as well as driving synergies in a relatively short period of time."
Earlier in January, Tremor acquired video ad platform Unruly from media company News Corp.
The deal "will enable the expansion of the company's global footprint, diversify its premium publisher base and allow it to leverage Unruly's relationship with tier 1 brands including Procter & Gamble Co, Unilever PLC and American Express Co," Tremor said.
Tremor continued: "The board remains confident in the outlook for Tremor in 2020 and beyond."
The company will report its 2019 results on March 31.
By Eric Cunha; ericcunha@alliancenews.com
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