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InternetQ helped by margin improvement

Last updated: 07:01 21 Jan 2015 GMT, First published: 08:01 21 Jan 2015 GMT

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Better margins in the second half boosted InternetQ’s (LON:INTQ) profits in 2014.

The Aim-listed mobile marketing and music streaming group saw revenues rise by 27% to €130mln in 2014 with mobile marketing accounting for four fifths and Digital Entertainment the rest.

Margins picked up in the second half, with annual underlying profits [EBITDA] rising to over €22mln compared to €16.2mln and net profit to €14mln from €11.1mln.

Cash flow remained strong with almost €15mln of cash generated over the year, which the company will use to support future growth as smartphone adoption and usage becomes commonplace around the world.

Panagiotis Dimitropoulos, chief executive, said: "Mobile marketing is expanding rapidly across the globe and InternetQ is providing profitable, performance-based marketing solutions which are achieving considerable traction.

“With our expanded geographic reach and our innate innovation, InternetQ remains confident in our ability to deliver strong revenue and earnings growth in the years ahead."

InternetQ added that it now has 3800 active app using its Minimob mobile ad platform, while over 2,500 new performance-based advertising campaigns for brands were run through the Minimob platform in December, double the number a year earlier.

On the consumer side, the group has signed up with mobile network operators or signed new deals in Cyprus, Poland and Indonesia, while a new partnership deal for Akazoo, its music streaming service, in western Europe is expected to be announced by the end of the quarter.

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