An update from Matomy Media (MTMY) sent its shares up by around 15 per cent, as the company reported that revenues and adjusted profits had grown significantly beyond expectations for the first half of 2017.
Matomy, a global media company that provides digital performance-based advertising services, expects revenues to rise as much as 15 per cent. Meanwhile, adjusted pre-tax profits should increase by around 60 per cent to $9.0m-$9.5m (£7m-£7.4m), up from $5.7m in the comparable period last year.
Matomy expects this momentum to continue into the second half of the financial year and 2018 - driven by the disposal of its non-core businesses to Creative Clicks Media Group BV, and the company’s general shift in strategic direction. This sees Matomy focus on “core mobile and video advertising and domain monetization”, which should cut operating costs and boost the bottom line.
