The affiliate marketing company announced its unaudited interim results for 1H2018.
UK.- The affiliate marketing specialist XLMedia has reported its latest financial results, and said that while saw revenue and profit for the first six months of the year decrease, it expects to meet its full-year projections.
XLMedia generated US$59.1 million for the six months ended June 30, approximately US$8 million less than the US$67.9 million generated during the same period in 2017. The company said that the fall was due to regulatory changes that affected the company. “Whilst these developments affected our performance, we believe this should lead to a clearer and more functional environment, and to long-term stability in the market and higher quality earnings for the company,” said the company in the report.
XLMedia chief executive Ory Weihs said: “The Group produced a solid profit performance in the first half, albeit against a backdrop of regulatory pressures and challenging market conditions in the online gambling sector. However, we are now seeing positive signals and expect to meet profit expectations for the full year.
“Since the beginning of this year we have been focusing on implementing our strategy and executing acquisitions in order to accelerate growth, allocating over $45 million of capital for acquisitions. Our newly acquired assets perform as expected and we are confident they will deliver a strong return.”