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7digital sees operating profit for 2021 after strong second half performance
StockMarketWire.com
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Digital music solutions company 7digital said it expected to achieve an operating profit in 2021 following new business wins in the second half of the year amid increased user demand for its platform.
The company said it expected to report substantial year-on-year revenue growth in 2021, resulting in operational profitability for the full year.
The company signed five new contracts, four expansions and eight renewals in the second half of 2020, resulting in an operating profit in the last quarter of year, and increased revenues in H2 2020 when compared to H1 2020, in line with management's expectations.
Five New contracts signed in the second half including 'a global technology company, Triller and Apex Rides alongside customers renewing or extending contracts such as ROXI, GrandPad, jazzed and Moodagent,' the company said.
At 8:49am: (LON:7DIG) 7digital Group Plc share price was 0p at 1.15p
Story provided by StockMarketWire.com
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