XLMedia says no reason for recent share price moves

(Sharecast News) - XLMedia said on Wednesday that it is not aware of any operational or corporate reason for the recent moves in its share price.The AIM-listed company, which provides digital performance marketing services, said it continues to trade in line with market expectations for the year ending 31 December 2018. In addition, it has a "material" cash balance and continues to generate "strong" cash flows from operations."The company's strategy remains to grow the business both through organic and acquisitive growth," it said.Last month, XLMedia posted a drop in half-year revenue and pre-tax profit amid a backdrop of regulatory pressures and challenging market conditions in the online gambling sector. However, it said it was starting to see positive signals and expected to meet full-year expectations.At 1435 BST, the shares were down 3.5% to 77.95p.