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CentralNic Group PLC on Monday said higher costs drove a decline in its interim profit, while its revenue grew by double digits.
The London-based internet services holding company that develops and manages online marketplaces said in the six months to June 30, pretax profit fell by $13.3 million from $15.8 million a year prior as costs of sales grew by 21% to $305.2 million.
Revenue grew by 18% to $396.4 million from $334.6 million the year before. This was partly attributed to growth across its Online Marketing and Online Presence divisions, which expanded by 18% and 20% respectively.
Adjusted earnings before interest, tax, depreciation and amortisation rose by 16% to $44.6 million from $38.6 million a year ago.
Looking ahead, CentralNic said it expects full-year trade to be in line with market expectations, with revenue forecasted to be in the range of $783 million and $834 million. Adjusted Ebitda is expected to be between $91 million and $98 million.
Chief Executive Officer Michael Riedl said: ‘CentralNic has continued to deliver yet another strong quarterly performance, enhancing our market share in each of the segments in which we operate. Our sustained performance is a testament to our strong ingrained culture of operational excellence, a factor that keeps us at the fulcrum of the industry ecosystems.’
Shares in CentralNic were up 0.3% at 131.20 pence each in London on Monday morning.
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