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UPDATE - DotDigital maintains growth as email usage surges

Last updated: 10:43 20 Jan 2015 GMT, First published: 11:43 20 Jan 2015 GMT

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--adds chief executive and non-executive director comments--

DotDigital (LON:DOTD) maintained its rapid rate of growth in its latest half-year as strong demand for its Cloud-based bulk email package helped revenues rise by almost a third.

Overall, revenue rose 31% to £10mln (2013: £7.6mln), matching the growth seen in the previous year.

The number of emails send by dotMailer customers rose by 52% to 2.6bn, while there was a 40% hike to £400 in how much customers spent on average each month.

All told, recurring revenues from the Cloud-based mailer service rose by 28% to £7.4mln, while managed and creative services  saw a 57% rise to £1.1mln.

DotDigital added US revenues also more than doubled to US$1.14mln, while partner channel revenues had jumped 146% to £2.2mln as the link with eBay’s e-commerce platform Magento generated 150 clients with aggregated annualised revenues of approximately £2mln.

Cash balances at the half-year end rose to £9.5mln (2013:£7.3mln).

Peter Simmonds, chief executive , said he was delighted with the 30% organic growth, which reflected its focus on mid-market clients.

"The dotmailer platform continues to develop to provide high levels of marketing automation to our clients and the product release due in January 2015 includes some exciting new multi-channel marketing capabilities.”

Simmonds told Proactive the product enhancements will give its customers the ability to push messages out to mobiles and social media platforms.

Simmonds steps down as chief executive shortly with Simone Barratt, currently a non-executive director, to take over.

Barratt was previously the president of digital marketing company eDialog.

She told Proactive: “We will focus on organic growth in our current markets, create a best-of-breed platform and, potentially, look at new markets.”

Shares advanced 5% today to trade at 33p.

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