StockMarketWire.com - Digital performance marketing services provider XL Media said it intended to continue a share buyback programme initiated in December.

The company also said that it was trading in line with its expectations for the year, with a focus on increasing its exposure to higher-margin publishing activities.

'Over the past decade, the group has both created and acquired a leading portfolio of assets in the publishing division,' chairman Chris Bell said in speech notes for the company's AGM.

'We are now focusing our efforts to fully leverage this core expertise to build a more comprehensive footprint across regulated gambling markets, in addition to our growing presence in the financial services vertical in North America.'

'XL Media continues to be a highly cash generative business with a strong cash balance.'

'Therefore, the board continues to evaluate the group's allocation of capital policy in order to both support our growth ambitions and to maximise shareholder value.'

'As a consequence of the current weakness in the company's share price and pending approval at today's AGM granting the company authority to buy shares, we intend to continue the share buyback programme that was initiated in December 2018.'

'I would also like to reiterate our commitment to maintaining a progressive dividend policy.'

'We also continue to evaluate selective publishing acquisition opportunities, which could potentially accelerate earnings growth.'

'We appreciate the ongoing support of our shareholders and remain focused on delivering on our full year numbers for 2019.'




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