- XLMedia's is trading in line with management's views, and directors had concluded that, following a strategic review, the best prospects for the business and maximising shareholders' value are though remaining an independent company on AIM.

The company said it had maintained its excellent start to 2016 with strong demand for services reported across the Group's geographic footprint. Directors had re-committed to maintaining a progressive dividend policy.

"The Group believes that the combination of scale and diversification will continue to support its growth," it said in a statement.

"The Board confirms that during the first four months of the year, the Group continued to progress according to its plan in existing and new verticals. Furthermore, developments in technology continue to progress well and as planned."

XLMedia's directors remained committed to the following growth strategy:

· to continue to expand the Group's operational reach into new geographies and verticals

· to continue developing its technology infrastructure that accelerates organic growth and further enhances XLMedia's reputation and competitive edge

· to execute acquisitions which both strengthen and expand the Group's operational footprint in what remains a broadly fragmented market

"Management continues to work to maximise shareholder value by continuing to commit to expanding the Group's core offering through a combination of ongoing investment and product development," the company said.

"The Group also remains focused on acquisitive growth and continues to evaluate a number of potential opportunities. It is this ongoing confidence that underpins the Company's progressive dividend policy and provides confidence in the near term trading prospects for the Group."

At 9:38am: [LON:XLM] XLMedia Plc share price was +0.25p at 69p

Story provided by