News blog

Pixel Interactive Media

  • BY: Andrew Hore |
  • POSTED: 15/04/2008 |

Online advertising company Pixel Interactive Media continues to grow on the back of increased internet advertising in Asia. 

Turnover grew 68% to $12.9m in 2007. Even if the acquisition of Beijing-based internet affiliate network Easy Growth is excluded the growth is still 48%.

Profits increased 36% to $1.52m. Excluding amortisation and share option charges, profits improved from $1.15m to $2.03m. The improvement came from the acquisition and the maturing Malaysian operations. The improved performance of those two businesses was partly offset by investment in technology and marketing and losses in newer operations in Singapore and Shanghai.

Pixel has more than doubled its Brand Ad Network to 69 sites. The top 10 advertisers accounted for 24% of revenues, against 31% in 2006. Advertisers are increasing the frequency of their online campaigns.

Pixel says it is the number one in the Hong Kong and Malaysian markets and would like to get into the top ten in China this year.

Pixel is keen to move into more new markets. Vietnam, Taiwan, Indonesia and the Philippines are possible sites for new offices.

There is $7.85m in the bank but growth in new markets is likely to come from opening new markets rather than acquisitions – where opportunities are limited.

Pixel is investing in mobile phone advertising services but chief executive Kevin Huang believes it is still “three-to-five years away from being a sizeable medium”.

The shares rose 0.25p to 36.25p, valuing the company at £14.09m. The shares are trading on around 15 times historic earnings – excluding amortisation and share option costs.

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds