XL Media, a provider of digital performance marketing services, is focusing on its efforts on building a more comprehensive footprint across regulation markets, in addition to a growing presence in the financial services vertical in North America.
Following the company’s successful year of achieving a gross profit $67.9M for the last 12 months, XL Media has successfully managed to continue generating revenue from a wide network of publishing assets.
At today’s Annual General Meeting, Chris Bell, Non-executive Chairman of XLMedia, will make the following statement: “The business continues to trade in line with management expectations with our focus firmly on increasing the Group’s exposure to higher margin publishing activities as set out in February 2019.
“Over the past decade, the Group has both created and acquired a leading portfolio of assets in the publishing division. We are now focusing our efforts to fully leverage this core expertise to build a more comprehensive footprint across regulated gambling markets, in addition to our growing presence in the financial services vertical in North America.
With the new DOJ legal opinion reversed a 2011 opinion used by several states to allow launch of online gaming and lottery operations, XL media will continue to grow the personal finance and the presence in the North American markets, with 6% of overall revenues now derived from this sector.
Chris Bell added: “XLMedia continues to be a highly cash generative business with a strong cash balance. Therefore, the board continues to evaluate the Group’s allocation of capital policy in order to both support our growth ambitions and to maximise shareholder value.
“As a consequence of the current weakness in the Company’s share price and pending approval at today’s AGM granting the Company authority to buy shares, we intend to continue the share buyback programme that was initiated in December 2018. I would also like to reiterate our commitment to maintaining a progressive dividend policy.
“We also continue to evaluate selective publishing acquisition opportunities, which could potentially accelerate earnings growth. We appreciate the ongoing support of our shareholders and remain focused on delivering on our full year numbers for 2019.”