CentralNic boosts revenues in first final results since listing

http://www.proactiveinvestors.co.uk/companies/news/68317/centralnic-boosts-revenues-in-first-final-results-since-listing-68317.html

Proactive Investors

Internet domain name registry and registry CentralNic (LON:CNIC) saw billings jump 15% last year to £3.9mln, helping revenues rise 4% to £3.05mln.

The company, which wholesales and retails the letters at the end of web addresses, said the growth stemmed from strong deferred revenues from previous periods, continued growth in annuity billings for existing inventory, the successful launch of new domain extensions, and consulting revenues relating to new top level domains.

Pre-tax profits dipped to £700,000 from £835,000 in the 12 months to 31 December 2013, while adjusted EBITDA (underlying earnings) also edged lower to £1.02mln from £1.13mln the year before.

It is the company's first full results since listing on AIM in September when it raised £5mln.

It is expected that the 25 new web names CentralNic was awarded by industry regulator ICANN, as well as an additional 26 it will have to contest, will boost this year's results when they launch in mid-2014.

CentralNic chairman John Swingewood said: "The directors are extremely pleased with CentralNic's strategic progress in 2013.

"The company is achieving sustained growth resulting from the continued demand for our domain names, establishing new retail channels and securing new inventory.

"The board is particularly pleased that these results are yet to include revenues from sales of our pipeline of new Top-Level Domains or of our new retail websites, all of which are starting their launch activities in mid-2014."