XL Media (AIM:XLM) – another great update but why are the shares so cheap?
The global digital publisher and marketing company has issued yet another positive trading update for the year ending 31st December 2015 driving its shares sharply higher. We appreciate this business faces the gambling world, albeit in a marketing role, but it is deploying cash generated into other areas, as well as returning a good chunk to shareholders via an attractive dividend. At the current valuation the shares are surely worthy of greater attention.
The latest update has confirmed that the Company now expects to exceed current market expectations delivering annual revenues of at least US$88.0m and adjusted EBITDA of at least $27.5m. This strong performance represents growth of a staggering 73% and 62% respectively compared to FY 2014, although there have been a number of acquisitions along the way.
During 2015 the Group acquired performance marketing company, Marmar Media and…
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