Today, Ebiquity announced its FY10 preliminary results, which include just 17 days of the major Xtreme acquisition that near doubles the size of the group. Underlying diluted EPS at 5.6p came in ahead of our 4.8p estimate, primarily due to better than expected operating profitability. The critical mass that Xtreme brings to the group makes Ebiquity's marketing and media monitoring and analytics businesses attractive to companies that are intensifying their focus on value and effectiveness of their media spend. We are raising FY11 EPS to 5.6p from 5.4p to reflect higher operating profitability for the enlarged group offset by more shares outstanding.

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