XLMedia makes 'good progress' throughout H1

Digital performance publisher XLMedia said on Monday that it had continued to make "good progress" throughout the first half of its current financial year.

For the six months ended 30 June, XLMedia expects to report revenues of approximately $32.0m, up from $27.7m a year earlier, and underlying earnings of approximately $2.9m, down from $3.5m in 2020

Cash balances remained strong at approximately $38.0m, a marked increase when compared to the prior year's figure of $24.8m.

XLMedia said its year-to-date trading performance had been buoyed by "a consistent performance" in its personal finance vertical, record organic growth in its European sport unit and "a positive impact" from the firm's recently acquired US sports arm.

However, XL warned that this progress had been "partially offset" by its casino wing's performance, where tail revenues continued to deteriorate and new revenues were being built from a smaller existing asset base.

Despite this, the AIM-listed firm reaffirmed its full-year guidance between $65.0m and $70.0m

As of 0900 BST, XLMedia shares were down 0.95% at 53.98p.