Narrowcast provider Swift Networks reports profit jump

ASX-listed narrowcasting service provider Swift Networks has reported a 167% EBITDA (earnings before interest, tax, depreciation and amortisation) jump in half-year profit.

The company, which provides advertiser-supported content to locations in the resources, maritime, aged care, retirement homes and government sectors, acquired GP out-of-home network Medical Media in a $25m deal in December.

Swift Networks’ CEO, Xavier Kris, flagged a focus on advertising revenues in the company’s half-year results

In its half-year report, the company said revenues for the six months to 31 December were $12.6m, up 21% on the year before with an EBITDA of $2.8m.