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CentralNic pre-tax profits soar

By BFN News | 09:10 AM | Wednesday 25 May, 2016

CentralNic's pre-tax profits jumped by 179.6% to GBP1.45m in the year to the end of December. Revenues rose by 71.3% to GBP10.4m and adjusted EBITDA increased by 88.7% to GBP3.2m. CentralNic said all three divisions (Retail, Wholesale and Enterprise) saw growth in revenue, while total billings (including its partners' shares) increased 172% to £26.87m (2014: £9.89m) due to high levels of demand for new Top-Level domains. Chairman Mike Turner said: "2015 was a positive year for the Group, with progress made in terms of increasing the scale of the business. While the Instra Group acquisition was completed in early January 2016, much of the diligence had been completed during the second half of 2015, culminating in the fund raising and General Meeting that took place at the end of the year. "I was delighted to see the Group execute this acquisition, with high levels of support from shareholders and other stakeholders. The Instra Group acquisition is transformational for the Group, providing access to new markets, additional products, a strong customer base, well established brands and an exciting white label offering. "The opportunity in our market is considerable, with the continuing roll out of new Top-Level Domains and enduring demand for established generic and country code Top-Level Domains presenting the Group with retail and wholesale opportunities across the majority of the world's markets. Indeed, while the world's internet users are still less than half of the global population, the industry is set to continue growing, especially with increasing access to mobile data devices across emerging markets. "There is still work to be done to transform our business but we have demonstrated positive steps with the acquisition and integration of Instra. "Assuming continued progress in all areas of our business, at this stage of the year we remain confident in the outlook for 2016." At 9:10am: (LON:CNIC) Centralnic Group Plc share price was +2p at 47.5p Story provided by

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