Crossrider plc Notice of Results and Trading Update (9259C)
January 23 2015 - 1:00AM
UK Regulatory
TIDMCROS
RNS Number : 9259C
Crossrider plc
23 January 2015
Crossrider plc
("Crossrider," the "Company" or the "Group")
Trading Update and 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 the following year-end trading
update.
As announced on 18 December 2014, the Company set out better
than expected trading for the full year to 31 December 2014
("FY2014") driven by organic growth of the Group's existing service
offering. The Company now expects to report revenues for FY2014 of
approximately US$71 million and to report EBITDA in line with the
revised higher market expectations.
The organic revenue growth has primarily been driven by the
Group's web division and the success of its app distribution
business. The mobile division has also continued to successfully
grow revenues as planned, as well as adding additional capabilities
to its Ajillion ad-serving and ad-exchange platform to ensure that
its technology remains at the cutting edge of this rapidly growing
market.
During December 2014 the Group delivered ads to 200 million
users (September 2014: 150 million users), monetising an average of
1.8 billion ad spaces per day (September 2014: 1.6 billion ad
spaces per day).
Following the Company's IPO in September 2014, the Group
continues to have a strong balance sheet. The Directors remain
confident in the execution of the Group's strategy of increasing
traffic to its platforms, improving the quality of its data
insights and expanding into new geographic regions through
investment in accretive acquisitions and its existing
operations.
Koby Menachemi, Chief Executive Officer of Crossrider, said:
"The Group's portfolio of products and services continues to
perform strongly. In particular its web extensions and app
distribution divisions have traded above expectations therefore
creating additional firepower for us to focus on the opportunity
presented by our mobile strategy. We continue to look to the future
execution of both our organic growth and M&A strategy with
confidence."
The Company will announce its maiden preliminary results for
FY2014 on 10 March 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 2500
Shore Capital
Bidhi Bhoma
Toby Gibbs
Jamie Cameron +44 (0) 20 7408 4090
Bell Pottinger
David Rydell
Olly Scott
James Newman +44 (0) 20 3772 2500
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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