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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.'