Business
Sale of Premium Domain Names and Trading Update
Sale of Premium Domain Names and Trading Update.
About this update from Team Internet Group Plc
[{"type":"text","content":"\n \nRNS Number : 0552Z CentralNic Group PLC 08 December 2014 \n\n \n\n\n\n\nPress Release\n\n\n8 December 2014\n\n\n\n\n \nCentralNic Group plc\n \n(\"CentralNic\" or \"the Company\" or \"the Group\")\n \nSale of Premium Domain Names\nand Trading Update\n \nCentralNic plc, (AIM:CNIC), the internet platform business which derives revenues from the global sale of domain names, announces today that it has sold a number of premium domain names for US$2.5 million, satisfied in cash. The Board is also pleased to provide an update on trading for the year ending 31 December 2014 where it confirms profits for the year ending 31 December 2014 will be in line with market expectations. \n \nSale of Premium Domain Names\nAs previously announced on 23 September 2014, CentralNic launched a Premium Domains trading business in the second half of 2014. Premium domain names are domain names that trade at a premium to normal retail pricing. \nCentralNic has today concluded sales of non-core premium domain names for US$2.5 million, satisfied in cash on completion, the proceeds of which will be utilised to further accelerate growth within the Group, and acquire additional premium domains to augment the existing portfolio.\n \nTrading Update\n \nThe Board is pleased with the Group's overall trading performance to date and is confident that profits for the year ending 31 December 2014 will be in line with market expectations. The Group has transformed its business to include registry, registrar and enterprise divisions that reflect a diversified international business specialising in domain name sales and related services, including a Premium Domain Trading business that through this transaction is already contributing to CentralNic's performance. \nCentralNic's strategy\nWhen CentralNic listed on AIM, the Group's strategy was to diversify its business activities in the domain name industry. It has succeeded in executing that strategy with the Group having exposure to the growth and re-organisation of the internet through the following activities:\n- retailing domain names via online stores such as internetbs.net, buydomains.london and domains.luxury whilst also offering consumers complementary services such as web hosting and website builders;\n-...