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Burst Media
- BY: Andrew Hore |
- POSTED: 28/09/2008 |
- COMMENTS: Add yours
Burst Media slipped into loss in the first half of 2008.
This was expected following the US-based online advertising group’s trading statement in July. Revenues were flat at $13.4m, while a profit of $279,000 to a loss of $550,000.
Burst has maintained its guidance that the full year outcome is likely to be revenues of between $28m and $30m, against $27.05m in 2007, and EBITDA in the range of $500,000 profit and $700,000 loss.
Management says that the focus on brand advertising business is beginning to pay off.
There is cash of $11.07m (£6m) in the bank. At 5.625p a share, Burst is valued at £4.67m.
Burst is continuing with the strategic review started in December 2007.
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