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02 Sep 2019 | 14:45

CentralNic losses deepen as rising revenue offset by acquisition costs

Domain name seller CentralNic posted a deeper first-half loss after rising revenue as accompanied by a jump in acquisition and integration costs.

Pre-tax losses for the six months through June amounted to $3.0m, compared to losses of $1.5m on-year.

Revenue jumped to $49.7m , up from $15.3m, while adjusted Ebitda tripled to $9.2m, up from $3.1m.

'In the first half of 2019 CentralNic's adjusted Ebitda exceeded our full year performance in 2018,' chief executive Ben Crawford said.

'These outstanding results not only demonstrate that CentralNic can source and complete transformative acquisitions, but that it can also integrate them successfully while continuing to deliver organic growth.'

'Moreover, as we scale up rapidly, the underlying qualities of high recurring revenues and excellent cash conversion become increasingly meaningful.'

'Our pipeline of future deals remains strong, while our net debt level remains comfortable particularly given the profitability of the existing CentralNic group and the expected contribution from recent acquisitions.'

At 2:45pm: (LON:CNIC) Centralnic Group Plc share price was +1p at 55p

Story provided by StockMarketWire.com
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