Media Corp Presents Its Six Month Financial Results

MEDIA CORP PRESENTS ITS SIX MONTH FINANCIAL RESULTS

12th May, 2011 at 07:39:13
Source: http://www.azonlinecasinos.com

Sale of Gambling.com doubled the Group's cash balance

London-based advertising network and gaming operator, Media Corporation Plc (Media Corp) announced its six months ended 31 March 2011 results this week.

Financial highlights include:

- Revenues of 13.3 million (2010: 9.9 million*)

- Gross profit of 2.6 million (2010: 2.6 million*)

- Loss before tax of 437,000 (2010: loss 241,000*)

- Operating Profit of 80,000 in March 2011

- Cash of 1.5 million (March 2010: 2.3 million) enhanced by a further 1.5 million in April from the sale of Gambling.com

- Purple Lounge achieved the milestone of 100,000 registered customers

- 1 million contract with Express Newspapers signed by wholly owned subsidiary, Eyeconomy Limited

* The comparative figures presented are for the six months ended 31 March 2010 and the year ended 30 September 2010

Justin Drummond, CEO of Media Corp said: "The Group has continued to make progress during the first half of the year having grown revenues significantly once more. The sale of Gambling.com was completed in April 2011 for 1.5 million doubling the Group's cash balances."

Gambling.com was sold to a UK affiliate marketing company, KAX Media who runs the WSN.com sports betting portal.

Related News Tags: none



« News index »