Digital performance marketing provider XLMedia has stated that it continued to trade in line with downgraded market expectations, in the six months up until the end of June.
During that time, the group executed a strategy of diversifying its revenue streams, both organically and also through acquisitions. The group acquired assets in the gambling and personal finance space, including Good Game, WhichBingo.co.uk and InvestorJunkie.com and is in the process of integration.
“In XLMedia's personal finance vertical we have seen continued organic growth,” a company statement reads. “The growth in this sector, combined with the website additions XLMedia has made during the past year, means that Group's revenues from this vertical are currently accounting for 10 per cent of the group's publishing revenues on a run-rate basis, compared to 5 per cent in the prior year.”
A month ago, XLMedia downgraded its financial forecasts for 2018, blaming the pressure of regulatory changes in Australia and Europe.
