CentralNic Group PLC (AIM:CNIC) has launched its second share buyback after what chief executive Michael Riedl described as a "highly resilient" first quarter of 2023.
Confirming an earlier statement, the internet registry and marketing specialist said gross revenues in the three months to end March rose by 24% to US$194.9mln, with net revenues up by 15% to US$45.98mln.
Underlying profits (adjusted EBITDA) increased 15% to US$21.3mln and net debt fell by US$7.3mln to US$49.3mln though operating profits dropped 23% to US$7.7mln, reflecting non-cash charges.
CentralNic added the new buyback, worth £4mln, reflected the current cash generation of the business.
Trading continued to be strong in the second quarter, the statement added, stating full-year results should at least be in line with current market expectations of revenues between US$771mln and US$833mln and underlying profits in a range of US$90.0mln and US$97.8mln.