- CentralNic's board is confident the group will meet market expectations for this year after more than doubling revenues in 2016.

The internet platform business which derives revenues from the global sale of domain names and associated services said it continued to grow while increasing recurring revenues last year.

Group revenue increased to £22.1m - up from £10.4m in 2015 - with recurring/subscription revenues increasing to circa 80% of overall revenues (2015: 67%).

Adjusted EBITDA increased by over 65% to £5.5m and net cash at the end of the year was £7.3m.

The group said trading at this early stage of this year was in line with plan, and business development initiatives were advancing.

Chief executive Ben Crawford said: "Following the rapid scaling up of our operations in 2016, we have made a pleasing start to 2017.

"We have additional sales resources, new licences to help grow our business in China, new TLDs launching and opportunities to sell software licenses and enterprise services.

"With support from our investors, we look forward to continuing the evolution of our business in 2017, scaling up to meet the demand for domain name services as it grows globally."

At 9:16am: [LON:CNIC] Centralnic Group Plc share price was +0.5p at 47.25p

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