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CentralNic first-half losses widen on higher costs

By BFN News | 08:33 AM | Tuesday 01 September, 2020


Internet domain names seller CentralNic reported wider losses in the first half of the year, as higher costs offset a rise in revenue. For the six months ended 30 June 2020, pre-tax widened 9% to $2.7m , while revenue increased by 124% to $111.3m on-year. Revenue was driven higher by a combination of acquisitions and underlying organic growth. 'The decrease in average gross margin from 40% to 32% reflects the change in the business blend as a result of the 2019 acquisitions, with each individual business maintaining its margins,' the company said. 'Having achieved strong results in the first half of 2020, management is confident that the full year results should be in line with management expectations,' it added. At 8:33am: (LON:CNIC) Centralnic Group Plc share price was +4.25p at 95.75p Story provided by StockMarketWire.com

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