H116 group revenues were slightly ahead of the prior year in both US dollar and euro terms, helped by continued growth in artnet News, where revenues were up 17% despite weaker Q2 advertising performance. Reduced losses from Auctions and the benefit of lower costs within the Price Database segment helped drive an 11% uplift in group contribution margin, partially offset by increased central expenses. Stronger operating cash flow drove higher net cash, which at end June was €0.9m, from &e
25 Aug 2016
Advertising growth remains key
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Advertising growth remains key
artnet AG (ART:ETR) | 0 0 -0.5% | Mkt Cap: 20.8m
- Published:
25 Aug 2016 -
Author:
Fiona Orford-Williams -
Pages:
5
H116 group revenues were slightly ahead of the prior year in both US dollar and euro terms, helped by continued growth in artnet News, where revenues were up 17% despite weaker Q2 advertising performance. Reduced losses from Auctions and the benefit of lower costs within the Price Database segment helped drive an 11% uplift in group contribution margin, partially offset by increased central expenses. Stronger operating cash flow drove higher net cash, which at end June was €0.9m, from &e