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Taptica to start buyback once RhythmOne deal completes

Published: 04:23 19 Mar 2019 EDT

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Mobile-based brand advertising is growing rapidly

Mobile advertising specialist Taptica International Ltd (LON:TAP) boosted sales by almost a third in 2018 while underlying earnings were 29% stronger.

All the improvement came from the brand advertising arm, where a strong performance and first-time contribution from Tremor Video DSP saw revenues more than doubled at US$146mln.

Performance advertising saw an 11% decline in turnover. Overall sales were US$277mln with underlying profits of US$44.1mln coming in ahead of expectations.

Merger

The group is in the process of merging with video advertising group RhythmOne and this would mitigate much of the market volatility seen last year at the performance-based marketing activities, said the statement.

Taptica was rocked in December when chief executive Hagai Tal stepped down due to a legal action related to a company he was involved with previously, in 2011.

The merger with RhythmOne also meant a planned share buyback had to be put on hold.

Tim Weller, the chairman, says the plan now is to launch a US$15mln buy-back when the merger has been completed in April.

Pre-tax profits in 2018 were 55% higher at US$27.2mln.

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