Group PLC on Tuesday said it was on track to meet annual guidance for 2024, with half-year revenue estimates showing ‘positive momentum’.
Shares in the London-based online marketing company rose 7.1% to 87.50 pence each early Tuesday afternoon in London.
Revenue for the six months to December 31 is estimated at £42.4 million, compared to £38.7 million the year prior. This represents a 10% rise in constant currency and 9% rise on a reported basis, and leaves Dotdigital on track to meet market forecast of £86.2 million in annual revenue.
Dotdigital said about 80% of total revenue comes from contracts, and estimated 10% annual growth in contracted recurring revenue during the first-half.
Adjusted earnings before interest, taxation, depreciation and amortisation and pretax profit are expected to meet full-year market forecasts of £26.7 million and £18.1 million respectively.
Cash balance at December 31 was £45.7 million, up from £37.1 million the year prior and in line with guidance.
The firm’s earnings confidence was accompanied by the news that Chief Financial Officer Alistair Gurney will leave Dotdigital on April 30. Gurney will oversee the release of interim results through to the end of June. Dotdigtal is yet to announce a successor.
Dotdigital was keen to point out ‘higher value customer wins’ during the half-year, especially in Europe, the Middle East and Africa, alongside progress in the Asia-Pacific region.
North American business grew at an unusually high rate of around 20% in local currency. Dotdigital said this was expected ‘to normalise to more sustainable double-digit levels in the future’, with strong pipeline of contracts in place across geographic markets.
Dotdigital’s half-year results are scheduled for release on February 25.
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