Trading Update

RNS Number : 7312H

Asia Digital Holdings PLC

26 February 2010

 



Press Release

26 February 2010

 

Asia Digital Holdings plc

("Asia Digital" or "the Group")

Trading Update

Asia Digital Holdings plc (AIM: ADH.L), an independent online marketing group, is pleased to announce the following trading update for the year ended 31 December 2009.  The Group will announce its final results for the year ended 31 December 2009 on Tuesday, 27 April 2010. 

Though loss making for the period as a whole, the Group returned to EBITDA positive trading throughout the last quarter of 2009 and as a result was ahead of expectations. This was driven by its Asian operations achieving break even trading, a post recessionary improvement in its Australian business and cost savings afforded by a restructured operational management team.

Cash flow, adversely affected by trading in the period, was assisted by the issue of a £0.5 million convertible loan note in the second quarter and by a £1.275 million (before expenses) placing in the third quarter. The bulk of the proceeds were applied to strengthen the balance sheet via the paying down of certain legacy creditors. Working capital management is expected to remain a priority throughout the current period.

The Group's Asian expansion was driven by recognition that the region has experienced strong growth in Internet users and digital advertising spend along with attractive supply side dynamics.  This attraction remains as these key metrics have continued to grow and are expected to grow further.

Commenting on the trading update, Adrian Moss, Chief Executive Officer of Asia Digital Holdings, said: "We are pleased to have returned the Group to a positive EBITDA position by the end of the year and remain excited by the opportunity.  Overall, the Board is cautiously optimistic moving into 2010."

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For further information, please contact:

Asia Digital Holdings plc
Adrian Moss, Chief Executive	Tel: [phone]
www.adhplc.asia

Astaire Securities Plc
Gavin Burnell / Tony Gibbs	Tel:  [phone]
Katie Shelton (Corporate Broking)	www.astairesecurities.co.uk

Abchurch Communications
Heather Salmond / Nick Probert	Tel: [phone]
[e-mail]	www.abchurch-group.com

Notes to Editors

Asia Digital is a holding group with businesses operating in the digital advertising space in Asia Pacific with 85 staff.

The Group has its head office in Singapore and currently has two distinct businesses focused on Australia, New Zealand, South East Asia ("SEA") Hong Kong ("HK") And India.

DGM - a specialist digital marketing agency focusing predominantly on the delivery of consumers to advertisers through its skill sets in search engine marketing, affiliate marketing and display advertising, servicing both agencies and clients direct. Operations for DGM are predominantly within Australia, New Zealand, South East Asia and India.

AKTIV - advertising sales house working with digital media owners to monetise their inventory of advertising slots "banners" via an in-house team selling to both agencies of/ and advertisers direct. Operations for AKTIV are predominantly within South East Asia and Hong Kong.

 

END

 

 

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