News & Comments: Progressive Digital Media Group Plc (PRO.L)

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Wednesday, March 23, 2011

Goldbug100 - Progressive Digital Media Group Plc (PRO.L) Release Preliminary Results For The Year Ended 31 December 2010

03 March 2011

On the 3rd March 2011 Progressive Digital Media Group Plc released their preliminary year end results. You can find a full copy at

http://www.progressivedigitalmedia.com/pdfs/Preliminary-announcement-Dec-2010.pdf

or read the highlights below:

Highlights

Key achievements in 2010

- Focused Group on Business Intelligence and B2B digital revenues
- Ongoing investment in our sales headcount, content and delivery platforms
- Group is now well placed to deliver both revenue growth and improved margins
Financial performance
- Group is profitable and recording good growth across a broad base of revenue streams
- Group revenue increased by 29.4% to £48.0m (2009: £37.1m)
- Adjusted EBITDA increased by 186.4% to £3.8m (2009: £1.3m)
- EBITDA increased by 287.8% to £2.3m (2009: £0.6m)
- Amortisation and other adjusting items have led to a reported loss before tax of £4.6m
(2009: loss before tax of £3.0m)

Our business

- Focused on high growth digital media sectors
- Focused on providing high-value digital content
- Has clear growth opportunities and a proven and experienced management team

Simon Pyper, CEO of Progressive Digital Media Group plc, commented:

“A pleasing set of results delivered not only during a period of both change and investment for the Group, but also in an environment of protracted economic somnolence. Furthermore, our results do not as yet fully reflect the expected benefits from either the significant investments we have made or from the efficiencies we have achieved through the introduction and integration of common processes and systems. We anticipate that the full year results for both 2011 and 2012 will reflect that we are continuing to invest across the Group to facilitate accelerated future growth.

The Board believes this has been a year of significant progress and is confident of the long-term profitable prospects of the Group.”

The full statement and results can be found at

http://www.progressivedigitalmedia.com/pdfs/Preliminary-announcement-Dec-2010.pdf