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7Digital Group - A Good Start To The Year

Published 08/16/2017, 09:21 AM
Updated 07/09/2023, 06:31 AM
7DIG
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7Digital Group's (LON:7DIG) recent trading update confirmed good progress. H117 revenues increased 13%, with a strong performance from high-margin licence and creative sales. Momentum in monthly recurring revenues and new contract wins, as well as the full impact of the 24-7 acquisition put the group on track for an even stronger second half and add to our confidence in the deliverability of targeted EBITDA profitability in 2018. Given the progress being made, the 3.0x FY18 EBITDA rating looks extremely attractive.

7digital Group

H1 trading update: Pick up in recurring revenues

H1 revenues, which include a month of the 24-7 acquisition and some currency benefit, increased 13% to £5.93m. High-margin licence revenues increased by 25% (c £3.8m) and monthly recurring revenues (including Juke!) increased by 27%. Creative revenues, which are also fairly high margin, were also “particularly strong”.

To read the entire report Please click on the pdf File Below:

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