CentralNic Group PLC (AIM:CNIC), the web services group, said it will look to artificial intelligence (AI) to help it accelerate its performance after making gains in each of its business segments in the first half.
Gross revenue surged by 18%, reaching $396.4 million, while net revenue was up 11% at $91.2 million in the six months ended 30 June 2023. Underlying earnings (adjusted EBITDA) grew by 16% to $44.6 million and adjusted EPS were up 34% at 11.37 cents.
"Through our ongoing initiatives to boost operating leverage, we are fortifying an already highly dependable and sustainable business model," said chief executive Michael Riedl.
"Our unrelenting commitment to these efforts continues to build upon our prime objectives of creating a market leader in its space and maximising shareholder value."
Its maiden dividend - a 1p final payout - was distributed in June, marking a "renewed capital allocation policy geared towards greater returns to shareholders".
In that vein, CentralNic has bought back 5.7 million shares in addition to purchases of shares by the company's employee benefit trust. In excess of £27 million remains available for the remainder of the programme.
Going forward, the company will be focusing on AI and what it can add to the business's top and bottom lines.
"Our AI strategy goes beyond simple technological application; it's about reshaping CentralNic into a dominant force in this data-driven era," said CEO Riedl.
It will be built on three pillars, he said. AI will be used to enhance capacity, accelerate impact and scale its advantage in this arena.
"The group has been at the forefront of the industry in integrating AI into the heart of our operations and has successfully pioneered and launched multiple AI projects," said Riedl.