logo-loader
RNS
viewMedlab Clinical Ltd

Media Corp. - Trading Statement

26 February 2009 Media Corporation plc ('Media Corp' or 'the Group') (AIM:MDC) TRADING UPDATE Media Corp, the AIM quoted leading advertising network and internet publishing group, today provides an update on trading. The Group's core business, the advertising network division Eyeconomy, has continued to trade in line with management's expectations during the first quarter of the 2009 financial year, despite the current difficult economic environment. The Board believes that, despite a significant downturn in overall media spend in this quarter, there has been a continuing shift from traditional media spend towards online media which is mitigating the overall effect on online spending. Eyeconomy has continued to expand in 2009 through the growth of both its network of publishers and sales team. Of particular note was the winning of the Express Newspapers online sales contract from a major competitor. It is anticipated the combination of increased inventory from publishers and the growth in sales infrastructure will enable the advertising network to continue to grow significantly in the coming months. The publishing business, whilst still challenging, is starting to show the early signs of recovery. Onthebox.com, following a recent re-launch, has cemented itself as the UK's most popular online TV guide and now offers further services including cinema and radio listings. Sport.co.ukhas grown enormously since its launch in 2008 and now receives over 1.2 million monthly visitors as a result of excellent content and search engine optimisation. Gambling.comhas continued to suffer as a result of the US gambling ban but there are early signs that this decision may be reversed by the US senate in the coming months. The Group remains in an excellent financial position with a very strong balance sheet and no debt and the Board have been evaluating a number of earnings enhancing acquisition and merger opportunities that will also expand the Group's geographical reach. Justin Drummond, CEO of Media Corporation plc commented: 'The Group's profitability over the past three financial years and the strategic sale of certain assets has meant the Group is now very well funded and positioned to take advantage of the economic downturn. Whilst the economic environment is challenging, it has created a unique opportunity for Media Corp to expand its business'. - ENDS - For further information please contact: Media Corporation plc Tel: + 44 020 7618 9000 Justin Drummond, Chief Executive Nilesh Jagatia, Group Finance Director www.mediacorpplc.com Daniel Stewart & Company plc Tel: + 44 0 20 7776 6550 Simon Leathers/Charlotte Stranner www.danielstewart.co.uk Bishopsgate Communications Tel: + 44 0 20 7562 3350 Jenni Herbert/Gemma O'Hara [email protected] Notes to editors Listed on the AIM market of the London Stock Exchange, Media Corp is a leading internet media and advertising group focused on website publishing and online advertising. The Group has two principal divisions: Advertising Network - Formed in 1996, Eyeconomy specialises in mass reach campaigns to over 32 Million unique consumers per month via its own proprietary ad-serving and tracking technology for clients including AOL, Delland American Express. www.eyeconomy.co.uk Website Publishing - Media Corp has a diverse publishing division specializing in online media. Our impressive portfolio of websites includes a number of market leading sites including: www.onthebox.com www.sport.co.uk www.gambling.com www.creditcardexpert.co.uk www.flightcomparison.co.uk

Quick facts: Medlab Clinical Ltd

Price: 0.39

Market: ASX
Market Cap: $83.99 m
Follow

Create your account: sign up and get ahead on news and events

NO INVESTMENT ADVICE

The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is...

FOR OUR FULL DISCLAIMER CLICK HERE

Watch

Medlab Clinical forges ahead in new vitamin trials for chronic illnesses

Medlab Clinical Ltd (ASX:MDC) chief executive officer Sean Hall tells Proactive Investors how the company is tapping into new areas of its “therapeutic toolkit” to better assist those with chronic health conditions.   Hall says there has been a shortfall in the standard of...

on 8/5/19

RNS