Minds + Machines Grp - Trading Update
Strictly embargoed until 07.00,
("MMX" or the "Company")
With strong trading continuing through to the end of 2019, the Company has experienced a fundamental improvement in topline revenue, revenue mix and cash generation in the year. Against this background we will announce a maiden dividend at the time of the FY 2019 Results, expected to be released in late
Commenting on FY 2019 trading,
"We have established a robust, scaleable platform that now delivers highly predictable and balanced revenue streams, based on continued organic growth augmented by ongoing innovation and selective acquisition. With a largely fixed operating cost and capacity across the platform, we therefore expect future growth to be incrementally positive. We likewise have good early visibility on 2020 revenues as a result of our significant renewal base, ongoing regular channel sales, and revenue generated from the strong new brand protection sales achieved late Q4 2019. In light of this progress and healthy outlook, we will introduce a maiden progressive dividend when the final results are announced in late
Headline performance and operating update
Revenue for FY 2019 is expected to be significantly ahead of FY 2018 with the quality of revenue continuing to improve over FY 2019 in line with management's stated objective of decreasing reliance on one-off brokered sales. Renewal revenue is expected to equate to over 60% of expected total FY 2019 revenue (2018: 60%), new registration revenue through the registrar channel has increased to approximately 30% of FY 2019 revenue (2018: 20%) and, pleasingly, one-off brokered sales have been reduced to under 10% of FY 2019 revenue (2018: 18%).
The balancing of geographic contributions evidenced in H1 2019 has also continued through the second half of the year with more revenue being generated in the US and
Cashflow from operations, including receipts of
As announced on
Notice of Final Results
A separate announcement confirming the publication date of the FY 2019 results in late
The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.
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For further information
The MMX portfolio is currently focused around generic names (e.g. .work, .vip), consumer interest (e.g. .fashion, .wedding), lifestyle (e.g. .fit, .surf, .yoga), professional occupations (e.g. .law), and geographic domains (e.g. .london, .boston, .miami, .bayern). In 2018, the Company completed its first acquisition, the ICM portfolio, and recently launched its first innovation based project, .luxe, which combines the strengths of the World Wide Web's naming system with that of blockchain. For more information on MMX and its rapidly growing renewal base, please visit www.mmx.co.
This information is provided by RNS, the news service of the
Quick facts: Minds + Machines Group Limited
Market Cap: £56.06 m
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