CentralNic traded in line with expectations in Q1 and expects to trade at least in line with current market expectations for the full year, despite challenging macro-economic headwinds. We estimate Online Marketing gross profit fell by c. $2m pro forma YoY in Q1 2023, compared to $6m growth in Q4 2022 and $11m-$13m growth in each of Q1 2022 - Q3 2022. Despite slowing growth, we believe CentralNic remains well positioned to beat our forecast for 6% gross profit growth and 7% Adjusted EBITDA growt ....
