System1 interim profits climb after revenue growth
By Duncan Ferris
Date: Thursday 07 Nov 2019
(Sharecast News) - System1 Group on Thursday reported a jump in interim profit on the back of a strong increase in revenue from its operations in the Americas.
The advertising firm booked a profit before tax of £1.4m for the six months ended 30 September, up 32% compared to the same period last year, as revenue rose by 4% to £13.7m.
Excluding the impact of its television advert ratings database, in which the company invested £1.2m during the period, pretax profit rose 26% to £2.4m.
Turnover from System1's operations on the other side of the Atlantic increased by 29% to £7.2m, more than offsetting sales declines in the UK, Continental Europe and the Asia Pacific region.
The AIM traded company proposed an interim dividend of 1.1p per share, unchanged from the year before.
System1 said it remained confident in its long-term potential due to its AdRatings database and the more general digitisation of the business.
Chief executive John Kearon said: "We continue to build out our new world class agency by leveraging our unique, advertising effectiveness IP, data and services. At a time of much change sales, profits and industry profile are growing steadily."
System1 Group shares were down 2.78% at 175.00p at 1241 GMT.
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