Pixel Interactive Media (AIM: PIXL), Asia’s leading online advertising sales network, is pleased to give the following trading update prior to entering its close period. The Directors are pleased to confirm that Pixel has made good progress and anticipates that pre-tax profits will be slightly ahead of expectations for the year ending 31 December 2006.
The Group plans to announce its preliminary results on 26 March 2007. An analyst briefing given by Kevin Steeds (Non-Executive Chairman), Kevin Huang (Chief Executive) and Belinda Montes (Chief Finance Officer), will be held at 9.30 a.m. on 26 March 2007 at Abchurch Communications Ltd, 5th Floor, 100 Cannon Street, London, EC4N 6EU.
The Group is on target with its expansion plans into other Asian markets with its Singapore office now operating and it has received a 30 year advertising license to operate in Shanghai, China. The Group continues to appraise a small number of strategic acquisitions and is looking forward to update the market at the appropriate time.
Pixel continues to increase the number of relationships with leading publishers and has recently been appointed as exclusive online advertising sales representative for OctopusRewards.com. Octopus Rewards Limited is a wholly-owned subsidiary of Octopus Holdings Limited, the largest issuer of stored value payment cards in Hong Kong with over 10 million cards in issue and offers all Hong Kong residents a simple and beneficial rewards programme for retail outlets.
The Group is also pleased to announce that key publisher partners, Microsoft Digital Advertising Solutions (MSN) Hong Kong and Atnext.com, the leading Chinese online newspaper from Hong Kong have renewed their advertising sales contracts with Pixel.
Kevin Huang, CEO, commenting on Pixel’s progress said: “It has been a good year for the business. We have improved our overall performance and continued to win new mandates with leading publishers in Asia. The Board is satisfied with the progress achieved during the period and are confident that a solid platform has been established for future growth.”