XLMedia set to surpass expectations after strong Q3
XLMedia has said that after it continued to “trade strongly” in the third quarter, it is on course to surpass full-year financial expectations.
In a trading update published today (Tuesday), XLMedia said it expects adjusted earnings before interest, tax, depreciation (EBITDA) for the 12 months through to December 31 to be “materially ahead of expectations”.
XLMedia also said profit before tax should come in at a higher-than-expected amount, although not to the same degree as adjusted EBITDA.
In a statement, XLMedia added: “Since the half year end we have continued to see strong organic growth across the group, particularly in the publishing division, which has led to us achieving better than expected direct margins in both segments.
“As well as the number of visitors to our websites increasing we have seen improved conversion rates and increased revenues from revenue share arrangements from users we referred to customers both this year and before.”
The news comes on the back of a busy year for XLMedia, which has completed a number of key acquisitions, including the purchase of Clicksmob, Greedyrates.ca and Moneyunder30.com.
XLMedia added: “Integration of all acquisitions made this year is progressing according to plan and they are all performing at least in line with management expectations at the time of acquisition.
“We are particularly pleased to report that that Greedyrates, which we acquired in January, has exceeded our growth expectations.
“We have been very pleased with the acquisitions that we have made in 2017 and see North America as a major opportunity for the group to grow in various verticals, such as financial services, cyber security, mobile apps and, as markets increasingly regulate, online gambling.
“Accordingly, the board remains confident in the continued performance of the business.”
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