Digitalbox plc, the mobile-first digital media business, which owns leading websites Entertainment Daily and The Daily Mash, today publishes its interim results for six months to 30 June 2019 (the “First Half”, the “Period”, or “H1 2019”).
· The Company started the period as Polemos plc, a suspended cash shell on AIM.
· On 27 February 2019, the Company changed its name to Digitalbox plc.
· On 28 February 2019, the Company completed the reverse takeover (“RTO”) of Digitalbox Publishing Holdings Limited.
· On 5 March 2019, the Company completed the acquisition of Mashed Productions Limited.
· The reported numbers for H1 2019 comprise of approximately two months of trading as Polemos plc and approximately four months as the enlarged group following the acquisitions, under the name Digitalbox plc.
Key points: Financial
· Group revenues for the Period of £0.7 million.
· Gross profit for the Period of £0.4 million.
· Adjusted operating profit1 for the Period of £0.1 million.
· Loss before taxation for the Period of £0.7 million.
1. Adjusted operating profit is stated before amortisation, acquisition and listing costs and share options charges.
Key points: Operational
· Entertainment Daily unique users grew from 2 million at the start of the Period to over 3 million at the end of H1 2019.
· 50% growth in Google sourced traffic on Entertainment Daily has broadened routes to audience engagement.
· Recommissioning of the BAFTA nominated TV show, the Mash Report.
· Daily Mash now growing from Digitalbox Ad Stack integration.
Commenting on the Group’s prospects for the year as a whole, Sir Robin Miller, Chairman, said:
“These are an admirable set of results demonstrating very encouraging audience growth and enviable control of costs resulting in strong margin performance. The focus on mobile makes the company ideally placed to take advantage of the continued acceleration in digital advertising via programmatic. The integration of our first acquisition The Daily Mash has been accomplished much as anticipated and with Entertainment Daily we have two strong brands with considerable potential giving us great confidence for the year ahead.”