Wednesday July 2, 04:35 PM
Online advertising still strong, Digital Marketing says
LONDON (ShareCast) - The trend towards internet advertising helped online marketing group Digital Marketing (LSE: DIGI.L - news) more
than double pre-tax profits on soaring revenues.Profits before tax in the year to 31 March climbed to £2.15m from £1.07m, on turnover that climbed 290% to £50.97m. The company's performance was helped by the acquisitions of website builder Graphico and digital creative marketing agency Hyperlaunch in June 2007. "Leading commentators have expressed concern about the outlook for the UK economy and the impact on media spend," chairman Stephen Davidson said. "Despite that, we are confident that our business will continue to benefit both from the trend towards online marketing and media, and through our ability to help clients deliver measurable and accountable marketing campaigns. Indeed the new financial year has started well with a number of important new client wins." Speaking to ShareCast, chief executive Ben Langdon said that the move toward online marketing was still in its early stages. "Online marketing is expected to take up 30% of total marketing in 2011; at the moment we're at about 15%," he said. While an economic slowdown would affect non-online media, this does not apply to online marketing he said. While he acknowledged that the company was on the lookout for acquisitions, he said it would be "cautious", only taking businesses with a proven track record.
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