Business
Half Yearly Report
Half Yearly Report.
About this update from Velocity Composites Plc
[{"type":"text","content":"\n RNS Number : 5663T Velti PLC 30 September 2010 \n \n\n \nFor Immediate Release September 30, 2010\nVelti Plc\n (\"Velti\" or the \"Company\")\nFIRST HALF 2010 INTERIM RESULTS DEMONSTRATE CONTINUED REVENUE AND EBITDA GROWTH\n \nDublin, Ireland - Velti (AIM:VEL), a leading global provider of mobile marketing and advertising technology, today reported its interim financial results for the first half of 2010. The Company benefited from increasing demand for its technology and services from existing and new customers.\n\"Momentum continued to build for Velti's products and services in the first half of 2010. Increasing demand from existing and new customers of Velti and our joint ventures resulted in campaigns for 545 clients, of which 150 are new clients added since the beginning of the year, including Samsung, Coke, Canon, Lenovo, Paramount, Shell, Mars, Bharti, Movistar and Google,\" said Alex Moukas, CEO of Velti.\nThe Board is very pleased with Velti's performance in the first half, during which the Company achieved considerable momentum going into the second half of 2010. In 2009, changes in reporting caused the results for 2009 to be particularly skewed to the second half of that year. While Velti has always been seasonally stronger in the second half, the Company expects in 2010 a more historical revenue split than the significant second half year increase that was experienced in 2009.\n \nFinancial Highlights for the First Half of 2010 Ended June 30, 2010 and Full Year 2009\n(in thousands USD)\n\n\n\n\n\n\n\n1H'10\n(unaudited)\n\n\n1H'09\n(unaudited)\n\n\n%\nChange\n\n\nFY2009\n \n\n\n\n\nRevenue\n\n\n$ 38,160\n\n\n$ 14,100\n\n\n170%\n\n\n$ 89,965\n\n\n\n\nAdjusted EBITDA*\n\n\n$ 1,470\n\n\n$ (3,178)\n\n\nN/A\n\n\n...