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Algomizer Revenues for First Half of 2018, Exceeds NIS 66.5 Million


Algomizer Revenues for First Half of 2018, Exceeds NIS 66.5 Million

Noam Band, CEO of Algomizer: "The acquisition of Linkury provides value to investors and allows us to continue our massive growth"

PR Newswire

NEW YORK, Sept. 4, 2018 /PRNewswire/ -- Algomizer, which is traded in Tel Aviv (TASE: ALMO) and specializes in Internet advertising, presents estimates of the Group's revenues and the results of its efficiency plan for the first half of 2018.

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As noted, in July last year, the Company acquired Linkury and its subsidiaries, and commenced an operational cost reduction following the acquisition. According to the company, these processes results are already recognized, and the company's results are improving every month.

Revenues in the first half of 2018 amounted to more than NIS 66.5 million.

The gross profit in the first half estimates for NIS 19 million.

Algomizer notes in the first-half reports operating profit from the Group's operations. Operating profit in the half amounted to more than NIS 400 thousand.

Noam Band, CEO of Algomizer: "The results of the quarter indicate a consistent and consistent growth in the Group's activity. Last year's acquisition of Linkury combined with the streamlining processes we conducted provides value to the investors and the profit generated by Linkury's activity enables Algomizer to continue expanding its extensive operations."

Band added that "alongside the increase in revenues, we also see an increase in the use of the Group's products, with one of the estimates for measuring growth and efficiency in the Group's products being the number of searches using its products."

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SOURCE Algomizer Group

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