Revenue totals $39 million
LONDON — Dutch interactive media company 2waytraffic, which hit the headlines last year following its acquisition of “Who Wants to Be a Millionaire,” has announced a 533% hike in revenue for 2006.
According to a preliminary results statement released Wednesday, turnover hit Euros 29.3 million ($39 million) vs. Euros 5.5 million ($7.3 million) in 2005. Net profit rose to Euros 2.9 million ($3.8 million) from Euros 372,769 ($497,907).
CEO Kees Abrahams said rising revs were due to new format launches and international expansion. He added that group’s high profile purchases of 2006 would spur growth in 2007.
“The benefits of the four acquisitions we have made will now start to come through for each of the acquired businesses and for the group as a whole in the current year,” he said.
Aside from “Who Wants to Be a Millionaire,” 2waytraffic also bought interactive content producer Intellygents, Internet television specialist HIPTV and technology group Emexus in 2006.
Abrahams said company, which currently has offices in Benelux, Spain, Eastern Europe, the Nordic region and the U.S., would continue its geographical expansion in 2007 with the launch of 2waytraffic U.K.
The company, which launched on London’s Alternative Investment Market in April 2006, said it did not propose paying a dividend at this time.