Group profit soars in first half Group profit soars in first half

Affiliate giant Group has reported a 249.1% year-on-year increase in comprehensive profit for the first half of 2020, despite revenue growth having slowed due to the novel coronavirus (Covid-19) pandemic.

Published 19th August 2020

Total revenue for the six months to 30 June came in at €9.5m (£8.5m/$11.3m), down 2.2% from €9.7m in the corresponding period last year.

Earned revenues – comprising search engine optimisation and direct navigation – amounted to €9.3m in H1, up 6.0% on the previous year and accounting for most of Group’s revenue in the first half.

However, paid revenue, which covers bought traffic, dropped by 78.0% year-on-year to €210,000, with the business putting a halt to these operations during the first quarter, which then remained paused in the second quarter.

Revenue generated from locally regulated markets accounted for 69.0% of the fist half total.

Looking at costs for H1, Group's operating expenses totalled €6.0m, a reduction of 18.2% from €7.3m in the same period in 2019.

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