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Asia Digital Holdings

  • BY: Andrew Hore |
  • POSTED: 03/05/2010 |

Internet advertising services provider Asia Digital’s operations have moved into profit and it is launching in China this summer.

Both the Australian and the newer Asian operations were profitable in the fourth quarter. Australia is starting to recover from a decline in its business earlier n 2009.

Group revenues increased 28% to £18.9m in 2009. Asia Digital still reported a loss of £2.6m, although this was slightly lower than 2008’s loss of £2.8m.

The top client generated 28% of revenues and the top 10 clients generated just over half of the total. These figures are still high but they are much lower than in 2005. 

Net cash was £1.07m at the end of 2009. There was a cash outflow from operations but last October’s £1.2m share placing has replenished the bank account.

At 0.46p a share, Asia Digital is valued at £3.26m. 

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