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The Markets
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The Markets
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Media

XLMedia to beat market hopes after strong second half

XLMedia said it has benefited from bigger scale thanks to recent acquisitions, and a rise in its client base.

Digital marketing expert XLMedia (LON:XLM) said it expects to exceed current market expectations after a strong start to the second half of the year.

Revenues are tipped to jump 73% to US$88mln while adjusted underlying earnings [EBITDA] looks set to leap 62% to US$27.5mln compared to last year.

XLMedia said it has benefited from bigger scale thanks to recent acquisitions, and a rise in its client base.

EDM, the social and mobile gaming marketing company which the group acquired in September 2014, is also performing strongly, it said.

The company uses tools and techniques to drive higher traffic for its customers, particularly in online gambling.

Ory Weihs, chief executive, said: “We are extremely pleased with the strong financial performance that the group is delivering and look forward to updating the market on our full year results for 2015."

Broker Cenkos Securities said the update was “another positive update… following a run of upgrades to forecasts since the group’s IPO in March 2014.”

Shares have risen 38% in the year so far and were up a further 9% to 71p today.

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