Interim Results
For the six months to 30 June 2011
19/09/2011
Asia Digital Holdings plc (AIM: ADH.L), an independent online marketing group, today announces its interim results for the six months to 30 June 2011.
Financial Highlights:
- Operational loss reduced by 40% to £421,000 (2010: £706,000)
- Sale of 20.6% stake in DC Storm Ltd, generating £194,500
- Progress in continuing operations, with a positive trend for the last three quarters
- Discontinued the AKTIV business to focus on core DGM business
- £273,000 cost saving in H1 2011
- Well positioned within China’s e-commerce sector, a major growth market
Commenting on the results, Adrian Moss, Chief Executive, said: “The first half of 2011 has seen ADH undertake a period of rationalisation. In addition to the sale of the stake in DC Storm, ADH has worked to control costs and reduce operating losses. The Company has made progress on all of these fronts and the discontinuation of the AKTIV business was an additional step in the streamlining process.
“Now into the second half of the year, ADH is able to focus solely on its DGM business in Asia. The Company has established a strong retained client base within India and Southeast Asia and is excited about the growth opportunities within China’s e-commerce market. The Company will focus its efforts on capitalising on the opportunities in this region in particular, as far as the ongoing working capital constraints will allow. The Board looks forward to updating shareholders on our progress over the coming months.”
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