CentralNic Group PLC (AIM:CNIC), the online and internet marketer, said strong sales momentum continued until the end of 2022 with revenues and underlying profits hitting record levels.
In a trading update, CentralNic said gross revenue for the year will be £728mln with net revenue and underlying profits (adjusted EBITDA) to be at least US$177mln and US$85mln.
That represents an improvement of 77%, 33%, and 84% respectively over the previous year, CentralNic said, adding that organic growth was 60%.
Online marketing was again the driver, especially privacy-safe online customer acquisition services.
Net debt dropped to US$57mln from US$81mln with operating cash conversion in excess of 100%.
In the statement, Michael Riedl, chief executive, commented: "CentralNic ended the year 2022 on a high note, with record revenue and profit in a challenging economic environment."
“We anticipate another year of robust growth and shareholder returns," he added.
Billy Greenwas appointed group CFO and to the board on 12 December 2022, CentralNic noted, while group managing director Don Baladasan has stepped down as a group director but will continue to sit on the supervisory boards of subsidiaries Team Internet and VGL Publishing.
Baladasan said: "I am proud of the transformation CentralNic has achieved over the last five and a half years. I am confident that the company will continue to flourish and thrive.”
Shares in the group rose 3% today to 147p and are up 16% over the past twelve months.
-- adds share price movement --