“destra Corporation is on target with its strategic plan by continuing to acquire and generate content, building online communities around content and selling advertising - we anticipate that our future results will reflect destra’s expansion plans”
Destra Corporation (DES) record 1H07 EBITDA Profit of $1.8 million
25th February, Melbourne; one of Australia’s largest independent digital media company, destra Corporation Limited (ASX:DES), released its half year results for the period ending 31 December 2006. destra reported an increase in earnings before interest, tax, depreciation and amortization (EBITDA) of $1.8m (based on Continuing Operations which exclude impact of profit on sale of businesses and the results of the disposal of businesses).
destra Corporation’s solid financial performance was further bolstered by the sale of destra’s Hosting and Domain Name businesses for $19.8 million and the acquisition of
Brand New Media,
Niceshorts.com.au destra Corporation CEO, Domenic Carosa said that the positive results reflect destra’s transition from a web hosting company to a pure play media and entertainment company.|
“We are only one year into our digital media growth plan. We are focused on continuing to grow our top and bottom line while continuing to make solid investments into digital media”
“With Australia’s online advertising market revenue breaking the $1billion barrier in 2007, an increase of 61.5%1 and predictions that by 2010, the nation’s online advertising market will be worth $1.8 billion or 13.1% of total advertising revenue2, destra’s recent acquisitions demonstrate our position of being at the forefront of innovation in digital media and capitalising on the industry’s continued growth.
“destra made several strategic acquisitions that are in line with the Company’s position as one of Australia’s largest independent digital media company’s including the acquisition of Brand New Media and one of Australia’s iconic record labels Central Station Records, MRA Entertainment & Niceshorts.com.au.
“In September 2006, destra branched out into the advertising market, with the purchase of Brand New Media, an Australian market leader in advertising media representation and a producer of brand-funded content and events. Brand New Media is well placed to tap into the billion dollar online advertising market.
“destra Corporation is on target with its strategic plan by continuing to acquire and generate content, building online communities around content and selling advertising - we anticipate that our future results will reflect destra’s expansion plans”.