News Column

Phorm Corporation Expects Revenue Growth In Second-Half To Accelerate

June 27, 2014

Rowena Harris-Doughty

LONDON (Alliance News) - Phorm Corporation Ltd Friday said it expects revenue growth to accelerate significantly in the second-half of the year, driven by recent strong growth in user numbers and advertising requests, following the launch of operations in China during the year.

The internet personalisation technology company said it has seen a significant increase in revenue in the first-half of the year, supported by the launch of commercial operations in China. It said that revenues in the five months to May 31 increased to more than USD400,000 from only USD28,500 in the first-half of last year.

The company also released its financial results for 2013, reporting a pretax loss of USD46.6 million for the year, compared with a USD58.1 million loss in 2012. It said revenues in the year increased to USD279,750, up from USD63,291 the prior year.

Earlier this year, the company announced that it had reached a total of over 30 million daily unique users globally.

Phorm said Friday that the growth in user numbers has been driven primarily by the development of new markets and is currently expected to translate into higher revenues over the coming months, as both inventory and advertising campaigns increase.

"The growth in the number of advertising requests attributable to Phorm users has greatly improved the company's ability to deliver larger advertising campaigns," the company said in a statement.

Phorm shares were trading 3.8% lower Friday early afternoon, at 9.50 pence.

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Source: Alliance News

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