StockMarketWire.com - CentralNic - the owner and manager of an internet distribution platform which derives a revenue share from sales of internet domain names - posts pre-tax profits of £701,000 for the year to end of December, down from £835,000 in 2012.

Billings (including partner share) increased by 15% to £3.89m and net revenue rose by 4% to £3.05m, despite being in the pre-revenue phase for new top-level domains. Domain net revenue grew by 7% to £2.65m with growth from .PW revenues, while revenues in other domains distributed by CentralNic were sustained.

Gross profit margin increased to 76.6% (2012: 73.4%) reflecting the company's ability to grow registry revenue with minimal incremental cost

Adjusted earnings before interest, tax, depreciation and amortisation fell to £1.02m (2012 £1.13m).

Chairman John Swingewood said: "The directors are extremely pleased with CentralNic's strategic progress in 2013. The company is achieving sustained growth resulting from the continued demand for our domain names, establishing new retail channels and securing new inventory. The board is particularly pleased that these results are yet to include revenues from sales of our pipeline of new Top-Level Domains or of our new retail websites, all of which are starting their launch activities in mid-2014.

"Our objectives when we listed on AIM last year were to accelerate our growth through securing new retail channels, including our own proprietary channels, and obtaining new inventory through commercial and government contracts, including making strategic investments in new TLD applicants. I am delighted that we made progress in each of those areas in 2013. The board is excited by the considerable opportunities for CentralNic and is confident that the Company will achieve its commercial targets for 2014."




At 8:37am: [LON:CNIC] Centralnic Group Plc Ord 0.1p share price was 0p at 62.5p



Story provided by StockMarketWire.com