Publishing its results for 2017, affiliate marketing firm XLMedia has detailed another set of record breaking results, outlining that its revenues increased by 33% to $137.6 million from the corresponding year.
Additionally, the Gross profit of XLMedia rose to $73.1 million up 37% from 2016. The group reported its Nordic expansion played a key role in its positive 2017 outlook, after it acquired a number of leading Finnish gambling related informational websites from Good Game Ltd for a total consideration of up to €15 million.
Ory Weihs, Chief Executive Officer of XLMedia, commented: “We are delighted to have delivered another record performance for the Group, underpinned by our clear strategic vision. Our recent entry into the personal finance sector is already delivering tangible benefits with potential for further upside, while the core activities continue to deliver solid growth.
“Elsewhere, core markets continue to perform well, and alongside the acquisitions and ongoing investment in technology, we are confident these will generate significant returns.
“Further to the fundraising completed in January, we believe we will be able to capitalise on our acquisition pipeline in addition to growing the business organically. The Board remains focused on continuing to deliver further progress and shareholder value.”
XLMedia also leveraged a strong presence in emerging markets, with a continued focus on its presence in the growing Romanian market after it completed the acquisition of a Romanian portfolio of publishing assets.
Looking ahead, XLMedia also outlined that it’s in a positive position to replicate its 2017 success in 2018, detailing $43.6 million fundraising to aide continued acquisition strategies, following on from the raising of an additional $43.6 million of cash to further accelerate acquisition strategy in 2017.