Shares in Taptica (TAP) rose 5 per cent on Thursday, after the mobile advertising group said adjusted cash profits for the year ending December 2017 would beat market expectations. Revenue, meanwhile, should be “broadly in line”, meaning an improved cash profit margin.
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Performance was buoyed partly by Tremor Video DSP, which was acquired in August last year and became profitable ahead of schedule in 2017. Meanwhile, Taptica expanded its Tier 1 client base, while its new Asia-Pacific offices helped to drive up revenues. Japan’s Adinnovation performed particularly well – good news for Taptica, which bought a majority stake in the company in 2017.
