Tremor International delivers 'record' Q1 performance

Advertising company Tremor International said on Tuesday that it had put in a record performance during the first quarter of the 2021 trading year, a historically quieter period for the group.

Tremor said first-quarter net revenue increased 96% to $63.0m, driven by a 105% surge in programmatic net revenues to $55.7m, while adjusted underlying earnings shot up 4,935% to $27.5m.

The AIM-listed group noted that total cash and cash equivalents came to $130.0m as of 30 April, with no debt.

Looking forward, Tremor said management remains "confident" in the medium- to long-term prospects of the company and stated it was "well-placed" to further benefit from the ongoing resurgence in the global digital advertising industry.

As of 0950 BST, Tremor shares were up 5.47% at 744.60p.