CentralNic adjusted earnings up 70%

Interactive Investor

Source: http://www.iii.co.uk/stockmarketwire/238854/centralnic-adjusted-earnings-70

CentralNic, the internet platform that derives revenue from the worldwide sales of internet domain names, reports a year of rapid profitable growth combined with investing earnings and funds raised at the IPO.

Net revenue grew by 99% to £6.07m in the year to the end of December (2013: £3.05m) - growing revenues from registry, registrar and enterprise services.

Adjusted EBITDA grew by 70% to £1.72m (2013: £1.02m) - reflecting strong revenue growth offset by additional costs invested in the fledgling in-house registrar and enterprise businesses.

Adjusted pre-tax profits rose to £1.66m - uo from £1.0m last time.

Chairman John Swingewood said: "I am extremely pleased with our strategic progress during the year. The group has successfully transitioned its business to offering a range of domain-related services as a wholesaler, retailer and supplier to enterprise customers. This provides the Group with multiple opportunities in the domain name supply chain at a time of considerable change within the industry.

"2014 has been a very good year for the Group, successfully acquiring and investing in exciting new business opportunities. The Group also invested in strengthening the leadership capabilities within the business.

"The Group is strongly placed to benefit from the re-organisation of the internet namespace, with access to earnings from domains as both a wholesaler and retailer in the primary markets and as a broker in the secondary market. Furthermore, the Group is exposed to both developed and emerging economies, being active in those markets either directly or via the Group's extensive distribution channel. With the world's internet users estimated at 3.1bn, there is still more than half of the global population who are yet to get online. As such, continuing sustained growth in the world's internet users presents us with considerable opportunity."

At 8:09am: (LON:CNIC) Centralnic Group Plc share price was 0p at 30.5p