Taptica Fiscal Year Pretax Profit Rises, Sees Strong 2017--Update

By Rory Gallivan

LONDON--Mobile advertising technology company Taptica International Ltd (TAP.LN) Monday reported a big rise in full-year pretax profit, helped by growing demand for mobile-advertising services from big names such as Amazon.com and Walt Disney Co.

Pretax profit for calendar year 2016 rose to $19.6 million from $2.8 million, on revenue up to $125.9 million from $75.8 million.

Taptica provides an online platform that enables companies to advertise online without having to deal separately with all the online media companies displaying their ads.

Chief Executive Hagai Tal said the company began 2017 with day-to-day revenue significantly higher than last year and is confident of strong revenue growth over the full year.

Advertisers are "spending less money on TV and print" in favor of mobile advertising, Mr. Tal said in an interview with Dow Jones Newswires.

Taptica has tracking technology to monitor where adverts appear, leaving it well-placed to address concerns about ads popping up alongside inappropriate content, he said. Some companies have recently withdrawn adverts from websites such as YouTube due to them appearing alongside content such as pro-Islamic State videos.

Mr Tal said Taptica is on the lookout for acquisitions to expand geographically and to strengthen its online video technology.

Shares at 0923 GMT, unchanged at 293 pence valuing the company at GBP176.8 million.

-Write to Rory Gallivan at [e-mail]; Twitter: @RoryGallivan

(END) Dow Jones Newswires

March 20, 2017 05:47 ET (09:47 GMT)

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