Investment in technology platform paying off
Online gambling marketing company XLMedia, which operates websites driving players to online casino operators, delivered robust interim results for the first half of 2016, attributing its success to investment in technology.
Financial highlights for the period ending June 30, 2016 include:
* Revenue increase of 39 percent to $51.2 million (H1/2015: $36.8 million) delivering another period of record revenues;
* Gross profit increased 47 percent to $27.0 million (H1/2015: $18.4 million);
* Adjusted EBITDA increased 37 percent to $17.7 million (H1/2015: $12.9 million);
* Profit before tax was up 20 percent to $15.8 million (H1/2015: $13.2 million);
* Interim dividend of $7.5 million or 3.8205 cent per share, an increase of 47 percent (H1/2016: 2.595 cent per share); and
* Strong balance sheet with $42.9 million cash and short term investments.
The company has established a US subsidiary, enabling it to further develop relationships with US clients. The focus of this new subsidiary will be to rapidly increase our business in mobile apps and additional non-gambling verticals, XLMedia said.
"During the first six months of the year we continued to develop the business and invest in our technology platform and mobile capabilities, which further underpin our key revenue and profit drivers," commented Ory Weihs, chief executive officer of XLMedia
Online Casino News Courtesy of Infopowa