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Digitalbox saw a loss for the period of £648k for the six months ended 30 June 2019 but did see maiden revenue of £712k generated after approximately four months trading as Digitalbox.
The Board is pleased to be able to report that performance, since completion of the Acquisitions, in terms of traffic, revenue generation and EBITDA are all in line with management expectations.
The Company's strategy remains unchanged, which is to build a market-leading, mobile-first digital media business for the 21st century through a buy and build strategy.
The Directors are pleased with the integration of The Daily Mash onto the Digitalbox platform, validating the Company's strategy and will continue to look for similar opportunities whilst seeking to develop the Group's existing brands.
Commenting on the Group's prospects for the year as a whole, Sir Robin Miller, Chairman, said:
'These are an admirable set of results demonstrating very encouraging audience growth and enviable control of costs resulting in strong margin performance. The focus on mobile makes the company ideally placed to take advantage of the continued acceleration in digital advertising via programmatic.'
'The integration of our first acquisition The Daily Mash has been accomplished much as anticipated and with Entertainment Daily we have two strong brands with considerable potential giving us great confidence for the year ahead.'
At 8:15am: (LON:DBOX) share price was 0p at 6.13p