AIM listed media group Independent Media Distribution (LON:IMD) cheered investors this morning with news that revenues in the first four months of 2010 had grown by 30% on last year and that profits were well ahead of management expectations. The details came ahead of IMD’s AGM this afternoon, where chairman David Haynes is set to tell investors that the group has enjoyed vibrant growth in its domestic and international markets. Shares in IMD responded by jumping 8.4% to 70.5p.
IMD is a major player in the European market for media logistics, where it acts as an ‘electronic postman’ and campaign data exchange for audiovisual advertising. It acts as a hub for delivering finished ad content electronically from production source to media owner and exchanging campaign info between media and creative agencies and sales and traffic teams.
In the first four months, IMD saw revenues from its operations in Ireland, France and Germany increase by more than 100% on the previous year, with UK domestic revenue up nearly 20% on the back of an improved advertising market. Normalised pre-tax profits were up over 50%, as was EBITDA.
David Haynes said: “I am delighted to report our business continues to show strong growth, with profits to date significantly ahead of our expectations. We are experiencing vibrant increasing sales both domestically and internationally. In our domestic UK market a number of our new services have done especially well and our international operations are growing very rapidly. We are especially pleased with progress in France, our most recent overseas launch.”
The latest update was a further boost for IMD, which announced in March that sales in the year to December 31, 2009 had grown by 9% to £8.08m with normalised pre-tax profits up by 50% to £1.68m. At the time, the company credited the non-cyclical nature of its business for being able to keep growing despite difficult economic conditions.
About the Author
Stockopedia News
0 comments
