XLMedia acquisitions helping to drive growth

Digital performance marketing provider XLMedia updated the market on its trading for the six months ended 30 June on Tuesday, saying it had continued to trade in line with its recently revised market expectations, and was executing on its strategy of diversifying its revenue streams through both organic and acquisitive means.

The AIM-traded company said that during the period, it acquired additional assets in both the gambling and personal finance space.

It said the bolt-ons included the acquisition of Good Game’s assets in January, and WhichBingo in April, as well as additional personal finance websites, including the recently-acquired InvestorJunkie.

All acquired assets were in the process of being integrated into the group, its board said.

“In XLMedia's personal finance vertical we have seen continued organic growth,” the board explained in its statement.

“The growth in this sector, combined with the website additions XLMedia has made during the past year, means that group revenues from this vertical are currently accounting for 10% of the group's publishing revenues on a run-rate basis, compared to 5% in the prior year.”

XLMedia said it would report results for the six months ended 30 June on 24 September.