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CentralNic secures US$3.4mln contract for sale of premium domain names

The sale to the unnamed buyer is part of management’s strategy to focus on and grow recurring revenues
domain names
Domains names are the labels given to the very last section of an internet name

Centralnic Group PLC (LON:CNIC) has sold off “a number” of its premium domain names for US$3.4mln in cash.

The AIM-quoted firm said the sale was part of its strategy to grow its recurring base.

READ: CentralNic Group secures contract to support 14 new top-level domains

CentralNic will use the proceeds from the sale to drive further growth and expansion within the company.

"Management's primary focus remains on growing CentralNic's recurring revenue base and, therefore, premium domain name sales are expected to continue the trend of contributing a decreasing proportion of the Group's revenues from 2018,” said chief executive Ben Crawford.

READ: CentralNic on course to become “major global player” after encouraging first half

Shares opened 1.2% higher at 66p.

--Adds share price--

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