appScatter Group plc (LON:APPS) said the integration of recently acquired businesses has taken longer than anticipated but expects to return to “stronger levels of revenue growth” once that has been completed.
The app management and data intelligence platform operator earlier this year agreed to buy US technology firm Airpush and last year bought app store intelligence tool provider Priori Data and digital security business Abilott.
In its results for the six months to the end of June, chief executive Philip Marcella said: “The integration process has taken longer than expected and with the focus of the management directed at the proposed acquisition of Airpush, short term revenue growth has been affected.
But he added: “We are encouraged however, that once the integration processes have been completed for Priori, Abilott and AirPush, we will return to stronger levels of revenue growth.”
Revenue in the first half still rose to £710,926 from £365,596 a year ago. Earnings (EBITDA) edged down to £3.0mln from £3.5mln, mainly due to higher cost of sales.
Cash outflows from operations reduced to £1.3mln from £2.05mln las year.
Since the end of the first-half period, the company has agreed a partnership with mobile commerce company, Bango.
Through the agreement, appScatter plans to grow in-app revenues for its customers through the Bango Marketplace. appScatter will offer Bango Marketplace to its app developer customer base, with appScatter developers benefiting from “an exclusive offer on high value audiences of pay-proven users”.
The company has also expanded the Priori Data brand into Asia after signing a joint venture with Japanese on-demand internet consultancy interarrows Inc.
Alongside its results, appscatter announced that it has signed a loan facility for up to €5mln from Harbert European Speciality Lending. The funds will be used to o be complete the proposed acquisition of Airpush .
“I am delighted to have secured this additional funding which will be used to progress the transaction, I look forward to the readmission of the enlarged group,” said CEO Marcell said.