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Israeli digital ad firm Matomy posts higher 2014 profit

Reuters - UK Focus

JERUSALEM, March 10 (Reuters) - Israeli digital advertising firm Matomy Group said on Tuesday its net income jumped in 2014, boosted by growth in mobile, video and social media advertising and a new partnership with French agency Publicis (Paris: FR0000130577 - news) Groupe.

Net profit rose to $12.3 million from $9.9 million the previous year, with revenue up 19 percent to $258.9 million.

Matomy listed in London in July after a failed attempt in March when the company, which counts American Express (Swiss: AXP.SW - news) and HSBC among its clients, could not raise enough money from EU investors.

The company decided to try again when the London Stock Exchange made its investment requirements more accommodating.

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In October, Publicis acquired 24.9 percent of the company, making it Matomy's largest shareholder.

Matomy also acquired mobile advertising platform MobFox for $17.6 million in cash and shares, which is expected to enable the company to reach a goal of 50 percent of revenue from mobile activity within three years.

"These business developments, together with the planned additional investments in 2015 in our media capabilities, partnerships and acquisitions, will strengthen our market position and drive our longterm profitability and sustainable growth," said Chief Executive Ofer Druker. (Reporting by Ari Rabinovitch; Editing by Mark Potter)