LONDON (ShareCast) - (ShareCast News) - Shares in Taptica International surged after the end-to-end mobile advertising platform said that it anticipates revenue and earnings will be ahead of expectations, after better-than-expected growth in the last two months of 2016.
The AIM-listed company anticipates revenue for the 2016 calendar year to be ahead of expectations, with a 65% increase to at least $125m, compared to the previous year.

Also, due to the company's platform continuing to deliver operational inefficiencies in the campaigns,

Earnings before interest, tax, depreciation and amortisation (EBITDA) will be "materially higher" than expected to about $25m from $7.4m.

This is due to better-than-expected growth in the last two months of last year from the mobile advertising campaigns run for new and existing clients as its technology platform delivered better results for them.

In particular, the company benefitted from higher-than-expected revenue from the Asia-Pacific region.

At the end of last year, the company had about $21m in cash, up from $9.5m in June 2016, after a $3.5m interim dividend payment in November 2016.

The company said that it has entered 2017 at a run rate "significantly higher" than last year as it continues to benefit from the investment being made into mobile advertising by corporations and advertising agencies.

Shares in Taptica International were up 10.47% to 237.50p at 1148 GMT.

Email this article to a friend

or share it with one of these popular networks:

• DIGG
• FACEBOOK
• STUMBLEUPON
• MIXX
• YAHOO BUZZ
• DELICIOUS
• REDDIT
• NEWSVINE