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CentralNic says half-year revenues already ahead of levels for whole of 2019

Steady underlying growth in the existing business has been augmented by earnings-enhancing acquisitions

Centralnic Group PLC - CentralNic says half-year revenues already ahead of levels for whole of 2019

CentralNic Group PLC (LON:CNIC), the internet domain name seller, said it has traded comfortably in line with market expectations in the first half of 2020.

The group expects to report first-half revenues of more than US$110mln, up from US$49.7mln in the same period of 2019, and adjusted underlying earnings (EBITDA) of more than US$15mln versus US$9.2mln the year before.

Cash at the end of June had risen to US$27.4mln from US$24.1mln at the end of March while net debt diminished to US$76.4mln from US$76.8mln.

"I am delighted that CentralNic has recorded more revenue in the first half of 2020 than in the full financial year 2019. This has been achieved through a combination of earnings accretive acquisitions and steady underlying growth across our businesses,” Ben Crawford, the chief executive officer of CentralNic said in an update.

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Price: 111 GBX

Market Cap: £278.79 m

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CentralNic flags full-year revenue at the top end of market expectations

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