Progressive Digital Media Group Plc announces preliminary results for 2011

Progressive Digital Media Group Plc has announced preliminary results for the year ended December 31, 2011. Progressive Media Group Plc provides premium business information, research services and marketing solutions for senior level decision makers

Highlights

Key achievements in 2011

  • Delivery of revenue and earnings growth
  • Renewed our focus on the Consumer and Technology Business Information markets
  • Plans in place for International expansion in 2012
  • Infrastructure in place for future growth

Financial performance

  • Group revenue increased by 13.3% to £54.4m (2010: £48.0m)
  • Adjusted EBITDA increased by 91.2% to £7.3m (2010: £3.8m)
  • Adjusted EBITDA Margin increased to 13.5% (2010: 8.0%)
  • Reported EBITDA increased by 143.5% to £5.7m (2010: £2.3m)
  • Reported loss before tax of £7.9m (2010: Loss £4.6m) inclusive of a non-cash impairment charge of £9.4m.

Mark Meek, CEO of Progressive Digital Media Group plc, commented, “These are a strong set of results delivered during a period of substantial change and investment. Moreover, this has been achieved in a period of relatively weak economic conditions. We are beginning to benefit from the significant investments in business information content, staff and delivery platforms and to reap rewards from the efficiencies we have achieved through the introduction and integration of common processes and systems.”

Read the announcement

UK, London

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