Ebiquity confident on hitting targets despite slack US performance

An increased rate of renewals and the launch of Portfolio Digital, a new platform designed to monitor online advertising, were the driving forces behind a total revenue increase of 5% over the first six months of the year.

Portfolio Digital accounted for over 90% of revenue in the platform based arm of the company.

High single-digit growth was seen in the Media Value Measurement (MVM) wing, and revenue from the Marketing Performance Optimisation (MPO) division continued to grow, most notably in the UK.

Revenue from the more traditional project based side of the business declined in the first half, in line with expectations as Ebiquity look to move away from it as its core product.

While performance in the US market was weaker than expected, the group stated that it was already on course to correct the ship stateside in response to changing demands from clients, expecting revenue and renewals to come on strong in the second half.

The company stated, “Whilst the first half of the year has been softer in the US, we anticipate stronger performance from the US MPO and MVM in the second half of the year and we are pleased that the MI practice has returned to growth following high renewal rates and new product launches.”

As of BST 0845, Ebiquity shares had slipped 3.91% to 118.00p.