Digitalbox PLC (AIM:DBOX) shares surged almost 25% after the media company again raised its forecasts for 2021, following stronger-than-anticipated trading across its three brands in December, its most important month.
The owner of Entertainment Daily, The Daily Mash and The Tab said it expects revenue and underlying profit (EBITDA) for the year ended 31 December 2021 to be “significantly ahead” of the recently upgraded market consensus of EBITDA of £850,000. Revenue is now expected to be not less than £3.6mln.
Digitalbox attributed its strong performance to the continued positive trend towards mobile advertising inventory and better-than-expected traffic from increased editorial investment over the period.
Shares opened 24.33% higher at 11.62p.