Blinkx says first half performance was in line with expectations

Internet media company Blinkx said it expects its performance for the first six months of the year to be in line with expectations.

In August, the London-listed group warned it would post an operating loss in the first half, on the back of a disappointing trading performance in the second quarter, and now expects revenue to fall from $106m to $90m.

On Friday, the company said it expects to report a loss before interest, tax, depreciation, amortisation and other costs of approximately $7m, adding it aims to return to profitability over the next six to 12 months following new product launches.

"The company has made significant progress over the past six months to fuel the growth of its Core Mobile, Video and Programmatic offerings,” said group chief executive Subhransu Mukherjee.

“We launched our unified RhythmOne brand and augmented our capability set with the subsequent launch of our RhythmMax programmatic platform during the period.”

Blinkx shares were up 3.57% to 29.00p at 0838 BST on Friday.