Financial highlights
Revenues increased 39% to $51.2 million (H1 2015: $36.8 million) delivering another period of record revenues;
Gross profit increased 47% to $27.0 million (H1 2015: $18.4 million);
Adjusted EBITDA increased 37% to $17.7 million (H1 2015: $12.9 million);
Profit before tax up 20% to $15.8 million (H1 2015: $13.2 million);
Interim dividend of $7.5 million or 3.8205 cent per share, an increase of 47% (H1 2016: 2.595 cent per share); and
Strong balance sheet with $42.9 million cash and short term investments.
Operating highlights
Continued development of our technology and in-house systems; DAUUP (EDM) awarded 'Facebook Marketing Partner' for Ad Technology;
Established a new US subsidiary, enabling us to further develop our relationships with our US clients in this important market. The focus of this new subsidiary will be to rapidly increase our business in mobile apps and additional non-gambling verticals;
Increased contribution from the publishing segment, as a result of strong organic growth in the English speaking market, changed revenue mix between the different segments ; and
Current trading remains strong and the Board is extremely confident in meeting profit expectations for the current year and beyond.
Ory Weihs, Chief Executive Officer of XLMedia, commented:
"We are proud to report another great six months of trading for the Group. During the first six months of the year we continued to develop the business and invest in our technology platform and mobile capabilities, which further underpin our key revenue and profit drivers. Dauup (EDM), was named Facebook Marketing Partner for ad technology, an important step which further strengthens our position and technological competitive advantage.
"We recently established a US subsidiary which will lead the Group's development in this important territory, with a key focus being mobile applications marketing. US mobile advertising growth is accelerating, and presence in this important territory will drive our growth in mobile apps and additional verticals.
"We believe we have established a strong foundation which, combined with our technology investments, we expect will drive the business to maximise the growth opportunity we see across our markets. We look forward to reporting on our continued progress."
