Blinkx, the video search engine firm, saw a fall in pre-tax profit despite rising revenue.
Revenues rose year-on-year from $27.4m to $44.6m, although pre-tax profit was lower that the same period last year at $1.48m (2010: £2m) after costs also soared.
Founder and chief executive officer Suranga Chandratillake said: "Video advertising continues to thrive, with double-digit growth forecast for the next five years, and our performance over the last six months underlines the strength of blinkx's model within this dynamic marketplace.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"Momentum was driven by increased traffic through the blinkx engine and the continued success of our advertising platform, AdHoc, in attracting new marquee brands such as Disney and Kellogg's.
"Moreover, we made further advances in our cross-platform strategy, signing key partners like Aurasma, Roku and Orb Networks to extend distribution in the mobile and connected TV arenas."
Cash at the end of the period rose to $52.9m from $16.86m the date a year ago.
The share price fell 13.11% to 106p by 10:41.
NR
-
Donald Trump doubles steel and aluminium tariffs – what does it mean for markets?Donald Trump’s steel and aluminium tariffs will be doubled to 50% from Wednesday. Will the UK be impacted following its trade deal agreement, and what does it mean for markets?
-
Parents forced to borrow as much as £22k to cover private school feesThe introduction of VAT on private school fees at the start of this year has resulted in more parents borrowing to pay for their children’s education
