Minds + Machines Group Limited (AIM:MMX) announced that the Group’s unaudited interim accounts for the six months ended 30 June 2016 will be published on 20 September 2016.
During the first half of 2016 transformational progress has been made by the Company:
- billings have increased over 300 per cent. to US$8.05 million from US$2 million for the same period last year;
- domains under management (“DUMs”) have grown by 236 per cent. to 728,940 as of 30 June 2016 compared to 217,200 as of 30 June 2015; and
- operating expenses have been significantly reduced as a result of the decisive cost-cutting and restructuring implemented by the new leadership team.
Toby Hall, CEO of MMX, commented:
“We are seeing exceptional growth in the new gTLD market. The new management team’s dual-track strategy of launching our portfolio into those markets experiencing greatest growth whilst stream-lining the Group into a pure-play registry is already paying dividends. We have every reason for optimism and excitement as we rapidly transition from historic operating losses to operational profitability in this fast growing industry.”
An analyst briefing will be held on 20 September 2016 at 10.30 am at the offices of N+1 Singer, 1 Bartholomew Lane, London EC2N 2AX. Analysts who wish to attend should email email@example.com to register.
“236 per cent growth”, All of which can be attributed to the launch of .VIP and selling at heavily discounted pricing to Chinese Registrars. Somewhere around 90% of these domains are parked and highly unlikely to renew without discounting the renewal pricing next year.
Not exactly a sustainable strategy for growth.
I hope such kind of growth of wealth is also materislized for their domain investors. That, I say, is a win-win game.