 jumped over 20 percent on Tuesday, after a trading update confirmed strong full year results.){kind=link}
Shares in marketing company Veltyco (LON:VLTY) jumped over 20 percent on Tuesday, after a trading update confirmed that its full year results would be significantly ahead of expectations.
For the year ended 31st December 2016, the company expects net revenues in excess of 5.7 million euros, over double 2015’s figure of 2.6 million. Adjusted operating EBITDA for the full year 2016 also saw an impressive increase over the last year and will be above te 2 million euro mark. This compares to 2015’s figure of 0.7 million.
Veltyco, an online marketing company in the gaming, lottery and financial trading businesses, said trading in December remained “strong”. The update comes after a previous statement in December, during which it said a forceful performance in its binary options trading division would significantly boost its fourth quarter results.
The company was previously named Velox3 and entered into a reverse takeover of Sheltyco Enterprises Group last year, with the merged company becoming Veltyco. The company disclosed a significant loss in the first half last September, with 1.6 million euros worth of one-off expenses relating to the merger.
Veltyco primarily focuses on generating marketing leads and entering into marketing contracts for partners in sports betting, casinos, poker games, lottery and options trading, markets. It works with industry leaders including Betsafe, LottoPalace and Option888.
Shares in Veltyco were up 20.85 percent at 42.90 (1533GMT).