(Sharecast News) - Video advertising firm Tremor International reported a period of "record revenue and profit growth" for the year ending 31 December on Monday.
Tremor said it had continued to drive "substantial customer momentum" in the second half of the year, demonstrating "strong organic growth" despite the Covid-19 pandemic.
The AIM-listed group said revenues generated across October and November were the highest in history and that it now anticipates achieving revenue growth in the second half of 37-43% year-on-year.
As a result, Tremor expects trading for the year ending 31 December to be "significantly ahead" of guidance issued back in October of $340.0-360.0m for revenues and $30.0-36.0m in adjusted underlying earnings, with revenues, net revenues and adjusted EBITDA now predicted to be in the ranges of $390.0-400.0m, $171.0-175.0m and $50.0-52.0m, respectively.
Tremor stated the "significant sales traction" was underpinned by its organic growth initiatives anchored within its "most meaningful growth engines".
"Management believe that the current growth trend is set to continue, reinforcing the synergies of the acquisitions the Company has completed in recent years and the benefits of Tremor's strengthened footprint in the market," Tremor said.
As of 0920 GMT, Tremor shares had shot up 27.93% to 294.25p.
20 Dec 2023 15:55