Blinkx posts record annual results

Internet media platform Blinkx reported record annual results as the company benefit from growth in online.

Pre-tax profits, including adjustments for acquisition and exceptional charges, came to $24.6m for the year to March 31st 2013, an 129% increase on the prior year's $10.7m.

Revenue rose by 73% to $197m from $114m while adjusted earnings before tax, depreciation and amortisation (EBITDA) climbed 111% to $30.2m from $14.3m.

Expansion in online advertising pushed revenues higher on the back of trends in widespread broadband adoption, the proliferation of connected devices and consumption of video content online.

"This has been an exciting year for Blinkx and we are delighted to report a record performance," said Chief Executive Officer, Brian Mukerjeee.

"The business demonstrated strong underlying growth, stability and efficiency, which was accelerated by the ahead-of-schedule integration of the acquisitions that we made last year."

Shares jumped 5.61% to 113p at 12:02 Monday.

RD