Crossrider plc Trading Statement (8305T)
23 July 2015 - 4:00PM
UK Regulatory
TIDMCROS
RNS Number : 8305T
Crossrider plc
23 July 2015
Crossrider plc
("Crossrider," the "Company" or the "Group")
Half Year Trading Update
Notice of Results
Crossrider (AIM: CROS), the creator of digital advertising
platforms specialising in monetising web and mobile media through
the use of big data, today provides an update on trading for the
six month period ended 30 June 2015.
Trading update
The Group announces today that for the six months ended 30 June
2015 it expects to report revenues in line with its expectations at
approximately US$41 million. This is a circa 52% increase compared
with US$27 million for the six months ended 30 June 2014. The Group
expects to report EBITDA for the six months ended 30 June 2015 of
between US$5.3 million and US$5.7 million.
The web business has continued to produce strong operating
margins and the Group expects to report growth in margins from
mobile as a result of improved optimisation of monetised ads. As
planned, we continue to invest in new technology such as Video,
Real Time Bidding and Programmatic Trading as well as the continued
integration of our existing technology across web and mobile.
We have continued to expand our reach by adding new traffic
sources and customers on our mobile ad-exchange. The number of
daily available ad spaces grew from 5.3bn in December 2014 to 7.5bn
in June 2015. During June 2015 the Group delivered ads to 220
million users (December 2014: 200 million users).
The Directors expect the Group to meet its full year trading
expectations. The balance sheet remains strong and the Board is
confident in the Group's ability to execute accretive
acquisitions.
Koby Menachemi, Chief Executive Officer of Crossrider, said:
"Crossrider is at the technological forefront of the rapidly
growing digital advertising marketplace. Our position as a leading
platform for the mobile advertising sector is delivering organic
growth for the Group, which is reflected in the growth in margins
we are seeing in mobile. This organic growth and continued
investment in mobile has brought the Group to its strongest ever
position and the Board is able to look to execute its acquisition
strategy with confidence."
Notice of Results
The Company will announce its unaudited interim results for the
six month period ended 30 June 2015 on 8 September 2015.
- ends -
For more information contact
Crossrider plc
Koby Menachemi, Chief Executive
Officer
Mark Carlisle, Chief Financial
Officer
c/o Bell Pottinger +44 (0) 20 3772 2496
Shore Capital
Bidhi Bhoma
Toby Gibbs +44 (0) 20 7408 4090
Bell Pottinger
David Rydell
James Newman
Sam Cartwright +44 (0) 20 3772 2496
About Crossrider
Crossrider is a creator of digital advertising platforms
specialising in monetising web and mobile media through the use of
big data. The Company's web and mobile platforms power ad networks,
agencies and direct publishers and enable the delivery of relevant
digital advertising through the analysis of big data: making online
marketing significantly more efficient and cost effective.
The Group operates web and mobile platforms which generate big
data, enabling the development of a proprietary ad serving
algorithm and engine that can extract value from this data to
deliver relevant advertising to targeted users.
Crossrider's vision is to become the de facto standard platform
for delivering relevant web and mobile adverts to billions of
people, powering the next generation of digital advertising.
www.crossrider.com
This information is provided by RNS
The company news service from the London Stock Exchange
END
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