CentralNic (LON:CNIC) reported today that its profits more than doubled in the first half of 2015.
CentralNic, which is a technical partner and wholesale distributor for web domains, saw a 213% rise in bookings to £7.9mln in the six months to June 30, compared with £2.5mln in the corresponding period of 2014.
Booked revenue was up 171% at £4.4mln versus £1.6 last year, while gross profit increased 125% to £2.1mln from £0.95mln in the first half of 2014.
Chief executive Ben Crawford highlighted that last year the company was “transformed” from having just one line of business – wholesale distribution – to having three distinct divisions (Wholesale, Retail and Enterprise).
“In the first half of 2015, each of these divisions started to scale up, reflecting the emergence of changes in the industry favourable to CentralNic’s products, services and strategy”
“Trading since the half year has remained in line with our expectations and, whilst mindful of the challenges in sustaining our growth strategy, the board remains confident that the group is well positioned to deliver its expectations for 2015 while continuing to create substantial shareholder value over the medium term.”
CentralNic ended the first half with £4.4mln of cash and equivalents.