M&A boosts XLMedia full-year profits
AIM-listed egaming marketing firm says organic growth and recent M&A activity will see EBITDA increase 62% YoY
Egaming performance marketing firm XLMedia this morning said it expects to record a 62% year-on-year rise in profits for 2015 as the company reaps the rewards of its aggressive M&A strategy.
In a trading update for the 12 months ended 31 December 2015, the AIM-listed company said full-year EBITDA is expected to reach $27.5m (£18.1m) for the year, while revenues are also predicted to increase 73% to $88m (£57.9m).
The company has completed a number of acquisitions this year including Juneâs purchase of a majority stake in web and mobile marketing company Marmar Media in a deal worth up to $7.36m (£4.72m).
The following month XLMedia also bought a series of UK-facing mobile websites while in September it acquired social and mobile gaming marketing firm ExciteAd Digital Marketing (EDM) for $19m.
âWe are extremely pleased with the strong financial performance that the Group is delivering and look forward to updating the market on our full year results for 2015,â Ory Weihs, XLMedia CEO, said.
XLMediaâs share price was up 9.5% to 72p on Londonâs Alternative Investment Market at the time of writing.