XLMedia full year performance to exceed expectations

Digital marketing services provider XLMedia expects its full year trading performance to exceed market expectations.

In a trading update on Tuesday, the AIM-quoted company said it expects to exceed current projections delivering annual revenues of at least $88.6m (£62.4m) and adjusted EBITDA of at least $28.2m. The performance represents growth of approximately 75% and 66% respectively, compared to full year 2014.

XLMedia noted that it continued to deliver strong growth in the second half of 2015, building on its performance in the first half, as well as the addition of Marmar Media acquired in July 2015.

The company expects to continue with its strategy of increasing scale and diversification, while focusing on enhancing its technological offering.