Immedia Group PLC – 2018 Preliminary Results

Immedia Group Plc (AIM: IME) today announces its preliminary results for the year ended 31 December 2018. 

Tim Hipperson, Chairman noted: “2018 delivered a substantial improvement in performance over the prior year in terms of revenue and profitability.

Our unique mix of brand engagement and creative skills is underpinning our ability to secure new and exciting business.  2019 business activity is performing in line with our expectations while we are also witnessing a pipeline of new and exciting opportunities with several key potential clients across our target verticals.”

FINANCIAL HIGHLIGHTS

• A much-improved performance  over the prior year
• 32% increase in revenue to £4,686,934
• EBITDA profit of £262,588 (2017: loss £512,847)
• PBT of £106,204 (2017: loss £693,268)
• Cash balances increased to £369,698 (2017: £53,743)
• The Group remains debt free apart from finance leases totaling £77,044

OPERATIONAL HIGHLIGHTS

• Immedia’s audience engagement strategies achieve true market traction
• Launched the innovative JD-X app project for JD Sports Fashion plc
• Expanded the reach of our multimedia content to smart devices and other audio platforms such as Amazon Alexa, Google Home, Apple Podcasts, Overcast and iHeart
• Dreamstream-X platform delivered a class leading broadcast audio solution to the entire Nationwide Building Society estate
• Landmark work for clients such as FIFA, Weir Oil and Gas, Maersk, Halliburton and Visit Visit Aberdeenshire
• IME geographical reach has grown on the back of client expansion and this is set to continue

Bruno Brookes, Chief Executive of Immedia  commented “Over the last 18 months we have made considerable progress in maximising efficiencies within the Group which leaves us well placed to leverage increased engagement with current clients and the conversion of a significant pipeline of new business opportunities.

Our experiences in 2018 and in the year to date have reinforced our view that now is the time for Immedia’s unique mix of brand engagement and creative skills.  We are in advanced dialogue with a number of key potential clients across our target verticals, specifically for the development of Omni Channel and content development in both physical and digital locations.   We expect to bring you further updates on these discussions within this financial period.”