Digitalbox PLC (AIM:DBOX) posted a “strong” first-half performance and remains confident it can navigate economic headwinds for the rest of the financial year.
Revenue jumped 40% to £1.8mln in the six months to 30 June while adjusted operating profit soared 126% to £660,000.
Consequentially, the digital media business which owns websites such as The Tab expects full-year results broadly in line with expectations.
“This strong first-half performance and our optimised operating model, mean we are confident that we can cope with the economic headwinds expected to impact global advertising revenues in the second half,” said chief executive James Carter.
Commercial transformation of The Tab, which delivered an operating profit every month in the first half and fully repaid its acquisition cost, was a driving force behind the performance, said Carter.
Additionally, Entertainment Daily’s “editorial team successfully maximising user engagement,” with traffic up 46% in the first half also played a role in its interim results.
TVGuide.co.uk, which it announced it would be purchasing in May, is expected to be completed in the second half, which it believes will strengthen the company’s position.