XLMedia is celebrating another record breaking year, after its annual results for 2017 revealed gross profits increased to $73.1 million up 37% from 2016.
The affiliate marketing firm has benefited from putting a focus in emerging markets, detailing that it had completed the acquisition of a Romanian portfolio of publishing assets, as well as expanding its presence in the Finnish market, purchasing various well regarded Finnish gambling related informational websites from Good Game Ltd for a total consideration of up to €15 million.
Ory Weihs, Chief Executive Officer of XLMedia, commented: “We are delighted to have delivered another record performance for the Group, underpinned by our clear strategic vision. Our recent entry into the personal finance sector is already delivering tangible benefits with potential for further upside, while the core activities continue to deliver solid growth.
“Elsewhere, core markets continue to perform well, and alongside the acquisitions and ongoing investment in technology, we are confident these will generate significant returns.
“Further to the fundraising completed in January, we believe we will be able to capitalise on our acquisition pipeline in addition to growing the business organically. The Board remains focused on continuing to deliver further progress and shareholder value.
Additionally, the group revealed that its revenues increased by 33% to $137.6 million from the previous year, whilst it had raised $43.6 million tin order to fund future strategic acquisitions.