Dianomi PLC on Monday reported a swing to profit in 2024, despite having a fall in revenue.
The London-based digital advertising provider had a pretax profit of £228,000 in 2024, swinging from a £1.8 million loss the previous year.
The company’s administrative costs fell to £7.1 million in 2024, to £8.3 million. In addition, the firm in 2023 reported a one-time cost of £1.1 million for reorganising the business.
Dianomi shares fell 9.4% to 30.80 pence in London on Monday morning.
Dianomi’s revenue was £28.0 million in 2024, down 7.0% from £30.2 million in 2023. This was due to ‘lower levels of demand’ across its advertiser base.
Looking forward, the company said it ‘remains well positioned’, expecting an increase of between 8% and 10% in digital advertising spending in the US. It also expects US spending to exceed $325 billion in 2025.
Chief Executive Officer Rupert Hodson said: ‘The start to 2025 has had its challenges due to macroeconomic headwinds but we have had some encouraging developments, with two significant new publisher wins and the signing of a deal with Microsoft Monetise to expand our addressable advertiser base.
‘While the investments we are making will result in a near-term increase in our cost-base and a temporary impact on profitability, we are confident they will strengthen our market position, help to drive sustainable growth and deliver long-term returns for shareholders.’
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