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(Alliance News) – CentralNic Group PLC announced on Tuesday that its revenue has jumped 88% since the start of the year, which has helped the company to turn a profit, as it enjoys a strong online marketing presence.
The London-based domain and web services provider said its revenue in the nine months to September 30 jumped 88% to $526.7 million from $280.6 million a year earlier. .
CentralNic said its organic growth had “further accelerated” in the recent period, driven by market share gains for its proprietary and privacy-friendly online marketing solutions.
Pretax profit was $21.0 million for the nine months, compared to a loss of $1.5 million a year earlier.
The number of visitor sessions has increased by 83% to 3.3 billion since the start of the year, compared to 1.8 million in the nine months to September 2021.
Looking ahead, CentralNic said it remained “confident” in its outlook, with business trading “comfortably” in line with market expectations.
Analysts expect annual revenue of between $687.8 and $709.6 million and earnings before interest, taxes, depreciation and amortization of between $80.2 and $82.9 million. In 2021, CentralNic recorded revenue of $410.5 million and Ebitda of $46.3 million.
CentralNic said it plans to release a full-year trade update on January 30, 2023.
Chief Executive Ben Crawford said: “This strong and consistent financial performance has allowed us to refinance at a significantly improved interest rate, with a syndicate of quality banks that have the means to provide continued support for the strategy of growth of CentralNic. With the sustainability of our growth proven in a recessionary environment and supported by leading financial institutions, we look to the future with even more confidence.”
CentralNic shares fell 0.4% to 126.50 pence apiece in London on Tuesday morning.
By Sophie Rose; sophierose@alliancenews.com
Copyright 2022 Alliance News Limited. All rights reserved.
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