Digital advertising group Tremor International PLC () expects to squeeze more than US$20mln of costs from recent acquisition RhythmOne. Tremor said it expects more savings but the benefits of work undertaking so far should through in the current year. Revenues in the half-year to June rose slightly to US$144.9mln as the first contribution from RhythmOne offset further weakness at the Taptica arm. Underlying profits were also little changed at US$21.4mln, though heavier R&D and admin outlays meant a pre-tax loss of US$3.3mln ($US$14.3mln). Cash generation was strong again and in spite of the heavy restructuring, the balance at the half-year rose to US$66.5mln but Tremor added the weakness at Taptica and the efforts undertaken to clean up RhythmOne will mean full-year profits will marginally miss expectations. Shares fell 6% to 135.5p. Add related topics to MyProactive Create your account: sign up and get ahead on news and events The Company is a publisher. You understand and agree that no content published on the Site constitutes a recommendation that any particular security, portfolio of securities, transaction, or investment strategy is... In exchange for publishing services rendered by the Company on behalf of Tremor International Ltd named herein, including the promotion by the Company of Tremor International Ltd in any Content on the Site, the...
Tremor International reported a six-month pre-tax loss of $3.3m after completing the acquisition of RhythmOne. The digital advertising group said it expects to achieve cost savings of more than $20m from the deal. Revenue for the period rose slightly to $144.9m as RhythmOne helped offset weakness at Taptica.