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CentralNic pre-tax profits up

StockMarketWire.com

Internet registry service provider CentralNic posts pre-tax profits of £636,000 for the six months to the end of June - up from £322,000 last time.

Revenues rose to £1.7m from £1.5m and earnings before interest, tax, depreciation and amortisation increased to £762,000 from £464,000.

Chairman John Swingewood said: "We are extremely pleased with the progress seen in this first half, which is reflected in these results, serving as confirmation that our model of distributing domain names to retailers globally represents a significant and growing opportunity.

"The company is undergoing sustained growth resulting from increased demand for our domain names, establishing new retail channels and securing new inventory. What is more impressive is that these results are yet to include revenues from sales of our pipeline of new Top-Level Domains, which include .college, .bar, .wiki and .xyz, for which the first launch activities are due to start at the end of the year.

"Our objectives when we listed on AIM were to accelerate our growth through securing new retail channels, including our own proprietary channels, and obtaining new inventory through commercial and government contracts, including making strategic investments in new TLD applicants.

"I am delighted that we are already making progress in each of those areas only weeks after listing. These are exciting times for CentralNic and the Board is confident that the company will achieve its commercial targets for the full year."





Story provided by StockMarketWire.com