CentralNic sells several 'premium' domain names

London-based software firm CentralNic Group announced on Tuesday that it had entered into an agreement to sell a number of its "premium" domain names.

The sales agreement, with the exact domains not shares, are expected to see the AIM-listed receive a total cash consideration of $3.4m which would then be used to accelerate further growth within the group.

CentralNic chief executive Ben Crawford said, "Management's primary focus remains on growing CentralNic's recurring revenue base and, therefore, premium domain name sales are expected to continue the trend of contributing a decreasing proportion of the group's revenues from 2018."

In the first half of the year the company reported a £0.62m loss before tax, halved from the previous year as revenue rose 19% to £10.59m.

As of 0830 GMT, CentralNic shares had slipped 0.38% to 65.00p.