- Advertising technology company Taptica said trading at the beginning of its current financial year had been 'varied'.

The company its performance-based advertising activities continued to experience industry-wide headwinds across the supply chain.

'One of the strategic drivers underpinning the proposed merger with RhythmOne is to endeavour to mitigate market volatility within this division by providing additional access to supply as well as to deliver a number of further synergies,' Taptica said.

Business remained 'robust' within the brand advertising platform, Tremor Video DSP, with management focused on delivering sustainable margin improvement, it added.

The business remained 'highly cash generative' with a strong balance sheet. As at 31 December, Taptica had net cash of $54.4m, which was following a $2.7m dividend paid to shareholders on 20 November.

'The company confirms that it closed 2018 in-line with management expectations and will publish its final results for the year ended 31 December 2018 on 26 March 2019,' Taptica said.'

At 4:21pm: [LON:TAP] Taptica International Ltd share price was -11.5p at 170p

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