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Immedia picks up the pace as it swings to profit in 2018

The marketing firm reported a pre-tax profit for the year ended 31 December of £106,204, swinging from a £693,268 loss in 2017, while revenues jumped to £4.7mln from £3.5mln

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Immedia's services include web and mobile app development

Immedia Group PLC (LON:IME) shares got a boost on Tuesday after the marketing firm swung to a profit in 2018.

The AIM-listed group reported a pre-tax profit for the year ended 31 December of £106,204, swinging from a £693,268 loss in 2017, while revenues jumped to £4.7mln from £3.5mln.

Over the year, Immedia’s chairman Tim Hipperson said the firm had seen a “strengthening” of its relationships with key clients including FTSE 250 JD Sports Fashion PLC (LON:JD.) and Nationwide Building Society.

The group also performed what it said was “landmark work” for clients such as FIFA, Weir Group PLC (LON:WEIR), Maersk, and Halliburton Co (NYSE:HAL).

Looking ahead, the company said trading over the first part of 2019 had been in line with management expectations, adding that it was currently in “advanced dialogue” with several key potential clients.

In mid-morning trading, Immedia’s shares were up 15.3% at 28.3p.

Quick facts: Immedia Group plc.

Price: 16.5 GBX

AIM:IME
Market: AIM
Market Cap: £2.4 m
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