StockMarketWire.com - Marketing group XLMedia downgraded its profit and revenue guidance amid regulatory changes in Australian and European online gambling markets.

The company said it now expected to post revenue of $130m, with marginally lower adjusted Ebitda compared to the prior year, with a corresponding impact on profit before tax.

'Underlying trading in the year to date has been stable with the Group actively deciding to focus on higher margin business and ceasing certain lower margin media buying activities,' XLMedia said.

'The group has also seen some impact from regulatory changes, namely the closure of the Australian market at the end of 2017 in addition to uncertainty regarding the regulatory status of certain European markets during 2018.'

'There has also been some reduction in SEO performance in few specific territories.'

The company said recently acquired personal finance assets continue to perform 'well' and that it expected expected total publishing revenues in that sector to continue to grow as a proportion of overall group publishing revenues.




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