13 July 2018 – trading update and directorate changes
A trading update covering the first quarter of the current financial year has revealed that revenue and adjusted EBITDA performance was in line with current market expectations. The RhythmMax platform has continued to drive growth and the overall strategic focus remains on mobile, video and programmatic trading. The company aims to continue strengthening its financial performance to better position itself to leverage industry consolidation where appropriate. Mark Opzoomer and Ujjal Kohli have also both stepped down from their positions as Non-executive Directors. A review of the current composition of the Board is taking place and it is likely that there will be at least one new Non-executive Director. We continue to rate the shares as a BUY.