CentralNic trades 'comfortably' in line with expectations

Domain name marketplace CentralNic said on Monday that first-half trading had been "comfortably" in line with market expectations.

CentralNic expects to report revenues in excess of $110.0m and adjusted underlying earnings of more than $15.0m - a marked improvement on the $49.7m and $9.2m, respectively, recorded a year earlier.

The AIM-listed group, which will post earnings for the six months ended 30 June on 1 September, added that cash increased to $27.6m from $24.1m during the period, while net debt decreased, albeit only slightly, to $76.4m from $76.8m.

Chief executive Ben Crawford said: "I am delighted that CentralNic has recorded more revenue in the first half of 2020 than in the full financial year 2019.

"This has been achieved through a combination of earnings accretive acquisitions and steady underlying growth across our businesses."

As of 1000 BST, CentralNic shares were up 1.82% at 84.0p.