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RhythmOne: 'It feels like we’re back'

RhythmOne (RTHM) seems to have put the worst of its problems behind it. A major restructuring programme has seen the digital advertising specialist dispose of a number of smaller 'non-core' businesses, invest $5m (£3.9m) in mobile, video and programmatic product development, and acquire a rewards platform, Perk. This helped send adjusted cash profits into positive territory in the second half of the financial year. Broker Numis thinks this return to profitability will continue and has forecast adjusted pre-tax profits of $8.7m and adjusted EPS of 1.8ȼ in the year to March 2018, swinging from losses of $4.7m and 1.1ȼ, respectively, in the reported period.

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