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CentralNic expects 19% rise in H1 revenues

By BFN News | 08:23 AM | Friday 25 August, 2017


CentralNic expects first half revenues to be 19% up on last year at £10,587,000 with adjusted EBITDA, excluding foreign exchange gain and losses, rising 50% to £1,367,000. It said adjusted EBITDA including foreign exchange was estimated at £1,055,000 including an £312,000 foreign exchange loss (2016: £1,309,000 including a £401,000 foreign exchange gain). A trading statement said: "Given the consistently heavy second-half weighting of results in recent years, the board is confident that the company is on track to meet market expectations for the full year to 31 December 2017, as the company continues to diversify through the acquisition of businesses with high-levels of recurring revenue and takes advantage of increased opportunities to trade in valuable premium domain names." CentralNic also announced that it had agreed to acquire the business and assets of SK-NIC, the manager of the exclusive country code top-level domain for Slovakia, .sk. CentralNic said the board believed that this would represent a major, strategic and earnings enhancing acquisition for the group. CentralNic said it had agreed an initial cash consideration of €21.27m with deferred cash consideration of up to €4.85m, dependent on SK-NIC attaining defined growth targets over the next three years. It said the acquisition was expected to legally complete around the beginning of September. At 8:23am: (LON:CNIC) Centralnic Group Plc share price was +3.25p at 68.5p Story provided by StockMarketWire.com

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