News Column

Marimedia Reports Profit And Revenue Jump In Maiden Results On AIM

September 3, 2014

Sam Unsted

LONDON (Alliance News) - Marimedia Ltd Wednesday posted a jump in pretax profit and revenue in the first half of 2014 and expressed its confidence to continue that performance in the second half, as it uses the funds it raised via its AIM flotation to diversify its operations and expand its presence in the mobile space.

The company, which provides technology solutions for optimising online advertising revenue for website owners, said its pretax profit jumped to USD5.1 million in the six months to June 30 from USD3.6 million last year. Revenue increased by more than half, hitting USD30.8 million against USD19.4 million a year earlier.

The group was admitted to AIM in May, raising USD30 million in the process. Around half of that funding was used by the firm in July to acquire mobile advertising technology firm Taptica for USD15.6 million.

It said it extended its coverage during the half year by signing up an increasing number of advertisers and publishers. It also expanded its employee base and implemented a shift in its organisational structure in order to enhance its video and mobile offering.

Elsewhere, it launched a new version of its Qadabra technology platform, launched a new self-serve platform for small publishers and developed its display, rich media and mobile solutions, Marimedia said.

"The growth momentum we achieved in the second half of 2013 continued into the first half of this year as we increased the number of business partners and connections with online digital advertising platforms thereby generating higher levels of volume and impressions for publishers," said Hagai Tal, Marimedia's chief executive.

Tal added the company "remains confident about delivering significant revenue and profit growth for the full year 2014 compared with the previous year".

Shares in Marimedia were up 3.1% to 165.00 pence in early trade on Wednesday.

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Source: Alliance News

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