StockMarketWire.com - Digital performance publisher XLMedia swung to a first-half loss as transformation costs offset a climb in revenue.

For the six months ended 30 June 2021, pre-tax losses were $439,000, compared with a profit of $171,000 last year, while revenue increased 16% to $32.2 million.

The company maintained guidance of revenue for full year 2021 of between $65 million and $70 million, but said the impact of 'transformational activities (including M&A and fundraising) [are] likely to suppress operating profit across FY 2021 and FY 2022.'

In a separate note, the company said it had acquired BlueClaw Media for a total consideration of up to £1.8 million.

XLMedia has been working with BlueClaw since December 2020.

'The acquisition provides a UK hub for XLMedia's European Sports business, in addition to high-quality talent and automated workflow capabilities, to drive consistent SEO operations and digital PR best practices which will be applied across the group's wider portfolio,' the company said.

'For the remainder of this year BlueClaw will be working autonomously, with responsibility for XLMedia's EU Sports business. Thereafter, they it will become a shared service function for both the Group's owned and operated assets and agency partners,' it added.





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