Good Year for Progressive Digital Media

ProgressiveUK-based business information and services firm Progressive Digital Media Group Plc has announced a 6.3 percent rise in revenue to £57.3m in the year to December 31st 2013.

The rise came from the Business Intelligence division which grew revenue by 12.1% to £33.8m. CEO Simon Pyper said revenues in the Events and Marketing division were flat but that this was ‘to be expected given our focus on growing our Business Intelligence revenues’ and was ‘more than satisfactory given the prevailing economic environment and the performance of other companies in this market’.

Adjusted EBITDA increased by 26.0 percent to £11.5m, and the group completed the acquisition of Pyramid Research from UBM for £3.3m and the integration of Kable, bought in 2012.

Pyper said the firm would continue with its successful strategy of delivering digital subscription based content over multiple channels including online databases (Intelligence Centres) and events; and said with new business wins in the fast growing economies of Latin America and Asia Pacific, the company would ‘look to expand its geographic footprint in high-growth consumer markets, such as China, India, Latin America and Australasia’.

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