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Tremor International happy with RhythmOne performance

Revenues in the half-year to June rose slightly to US$144.9mln

Tremor International Ltd -
video watcher

Digital advertising group Tremor International PLC (LON:TRMR) expects to squeeze more than US$20mln of costs from recent acquisition RhythmOne.

Tremor said it expects more savings but the benefits of work undertaking so far should through in the current year.

Revenues in the half-year to June rose slightly to US$144.9mln as the first contribution from RhythmOne offset further weakness at the Taptica arm.

Underlying profits were also little changed at US$21.4mln, though heavier R&D and admin outlays meant a pre-tax loss of US$3.3mln ($US$14.3mln).

Cash generation was strong again and in spite of the heavy restructuring, the balance at the half-year rose to US$66.5mln but Tremor added the weakness at Taptica and the efforts undertaken to clean up RhythmOne will mean full-year profits will marginally miss expectations.

Shares fell 6% to 135.5p.

Quick facts: Tremor International Ltd

Price: 152 GBX

AIM:TRMR
Market: AIM
Market Cap: £186.58 m
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