One Media iP Group PLC (AIM:OMIP) has announced that it expects to report an increase in revenue for the full year.
Total revenue for the year to October will likely sit at £5.4 million, the digital music rights firm said on Monday, marking an increase of 5%.
Net revenues are expected to rise by 10% to £3.6 million meanwhile, after One Media iP’s core music rights management business enjoyed a strong year.
Cash and pre-tax earnings are set to fall in line with expectations to £1.2 million and £1.4 million respectively, following a strategy shift to redirect cash toward anti-piracy software subsidiary TCAT Ltd.
“These numbers are very much in line with our expectations, notably the continued growth of our music rights management business and the strategy that we set out during the course of this year to reinvest into the future potential of TCAT," chief executive Michael Infante commented.
“We look forward to presenting our year end results in full in due course,” he added, with full-year results expected in March.