a4u Blog

Affiliate Future today announced their interim results for the period ended 30th April 2007

Highlights:
 
- Turnover increased by 40% to £7,961,855 (2006: £5,701,798)
- EBITDA increased by 25% to £589,078 (2006: £473,124)
- Net assets increased by 102% to £4,080,000 (2006: £2,018,000)
- Profitable growth in IBG Media division
- Good progress in International divisions
- Conclusion of strategic review
- Early adoption of International Financial Reporting Standards ("IFRS") in the financial year ending 31 October 2007

Maziar Darvish, Chairman of IBG, commented:  “IBG remains a growing, profitable business with strong prospects. The Board is resolute in its belief that the continued pursuit of our strategic objectives is the most effective method of delivering shareholder value in the medium term.”
 
“To this effect, our focus will continue to be on growing our network based advertising operations both in the UK and international markets, whilst exploiting higher margin growth opportunities available to our media division. The broadening of IBG’s revenue mix, in geographic, product and service terms remains a key objective.”
 
On outlook, he added: “The Board believes that IBG has the potential to evolve into a significantly larger business with broad revenue streams within the online advertising industry. Furthermore, current trading remains strong and the Board is confident that IBG has an exciting future as an independent operator.”

IBG Shares which have recently taken an unexpected nosedive closed today at 16.25p, a jump of just over 16%