Pureprofile Reports Revenue Rise, Small Loss

Australian digital research platform Pureprofile has released unaudited financials showing full year 2019 revenue up 7% to $27.3m. However, last year's EBITDA $0.7m turned into a loss of $0.6m.

Pureprofile collects consumers' profile data in exchange for rewards, and offers ad targeting, content strategy and research panel services. In January, the company reported a 16% fall in revenue to $23.8m for the second half of 2018, along with a 50% drop in EBITDA to $0.6m.

The company has been restructuring in an attempt to turn round its fortunes, and in February it sold off the Australia and New Zealand divisions of its Cohort data insights, programmatic media and lead generation business for $500k, following last October's sale of its Media Trading Business. According to Pureprofile, these sales allow it to focus on its core strengths in Data & Insights and Media. In an interim statement, the firm said that during full year 2019, Data & Insights revenue rose 14% to $18.4m from $16.1m in 2018 (up 10% in the UK); while Media business revenue increased 3% to $6.1m.

Gross profit for FY2019 was $16.1m, compared with last year's $15.0m, with costs down slightly from $17.5m to $16.8m. During the latest financial period, the company increased its debt facility with its existing lender by $3m, and a further bridging loan of $2.6m was provided to support the company as it transitions to a new debtor financing provider. Total debt as at 30th June 2019 was $16.5m.

Pureprofile CEO Nic Jones (pictured) comments: 'This has been a challenging year but we are happy with the performance and growth of our core business units. Having sold the non-performing businesses Pureprofile is a much stronger company. We are confident in the continuing success of our turnaround and look forward to the year ahead'.

Web site: www.pureprofile.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.