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CentralNic confident of meeting full-year expectations

“Given its equity position has substantially improved and its current trading is favourable to market expectations, the company is currently reviewing its capital structure for efficiency in view of its continued acquisition strategy,” said Mike Turner, the chairman of CentralNic.
Top level domains
Both CentralNic's traditional business and the newly acquired KeyDrive continued to grow organic revenues with healthy profit margins

Internet domain name seller CentralNic Group PLC (LON:CNIC) saw revenue double in 2018.

In the current year, results to date combined with a strong level of recurring revenues have underpinned the board's confidence in meeting market expectations.

WATCH: CentralNic looking to again double in size in 2019 after transformational year

Revenue rose to £42.7mln in 2018 from £21.4mln (excluding premium domain sales, as selling premium domains is no longer a core activity of the group) in 2017.

Adjusted underlying earnings (EBITDA) grew to £7.0mln from £4.2mln (again, excluding premium domain sales).

Administrative expenses, which includes acquisition-related costs, rose to £22.1mln from £12.3mln, leading to a loss before tax of £3.8mln versus a profit in 2017 of £1.4mln.

The group ended the year with a cash balance of £18.0mln, up from £10.9mln a year earlier, after an oversubscribed £24mln share issue. Net debt, including pre-paid costs, narrowed to £1.7mln from £6.5mln at the end of 2017.

Net cash flow from operating activities after tax was higher than the previous year at £6.7mln (2017: £3.8mln).

READ CentralNic acquires Romania and Brazil-focused domain host provider GlobeHosting

READ CentralNic joins the domain name big boys with Keydrive acquisition

"Results to date in the new financial year, together with the group's high percentage of recurring revenues, provide the board with every confidence of meeting market expectations for 2019,” said Mike Turner, the chairman of CentralNic.

“Furthermore, the continued availability of attractive acquisition targets, coupled with the group's proven ability to source, complete, and integrate complex acquisitions around the world, provides an excellent opportunity to build a sizeable global business to rival the largest industry players,” he continued.

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Centralnic Group PLC Timeline

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