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China premium sales update

Released 07:00 12-Sep-2017

RNS Number : 4256Q
Minds + Machines Group Limited
12 September 2017
 

For release at: 07.00 on 12th September 2017

 

Minds + Machines Group Limited

("mmx" or the "Company")

 

China premium sales update

 

Minds + Machines Group Limited (AIM: MMX), one of the world's leading owners and operators of Internet Top-Level Domains ("TLDs"), is pleased to announce that since the release of its 2017 premium inventory for China in late June 2017, premium sales in excess of $3.4million have been achieved in .vip, of which approximately $2.8million has closed in the last 10 days.

 

Toby Hall, CEO of MMX commented:

"We are building a strong, long-term, annuity based business with each of our regions now contributing well to the renewal revenue mix.

 

"The exceptional renewal rates achieved in China in H1 are, in no small part, a direct result of the premium pricing policies introduced at the launch of the .vip TLD. The significant interest we are now experiencing in our 2017 premium inventory allocation follows our recent Beijing approval and, we believe, lays down further foundations for strong recurring revenues in subsequent years from the region.

 

"These latest sales also mean we are making excellent progress towards achieving management's top-line billing targets for China for the current year, with more than 60% of our 2017 China premium allocation now sold in recent weeks. These sales, along with the launch of .boston in October, will however further accentuate the H2 weighted nature of our business as we now enter the main renewal seasons for our leading properties in Europe and the US."

 

Outside of China, management is encouraged by the interest now being shown in its premium inventory in the UK and US following the introduction of its revised premium pricing policies earlier this year.

 

mmx will be announcing its unaudited interim results for the six months ended 30 June 2017 on Tuesday 26 September 2017.

 

-ends-

 

For further information:

 

Minds + Machines Group Limited

 

Toby Hall, CEO

Tel: +44 (0) 7713 341072

Michael Salazar, COO/CFO

Tel: +1 (310) 740 7499

 

 

finnCap Ltd

Tel: 020 7220 0500

Corporate finance - Stuart Andrews/Carl Holmes/Simon Hicks

Corporate broking - Tim Redfern/Camille Gochez

 

 

 

Belvedere Communications Limited

Tel: +44 (0) 20 3567 0510

John West

 

 

 

 

The information communicated in this announcement contains inside information for the purposes of Article 7 of the Market Abuse Regulation (EU) No. 596/2014.

 

About MMX

Minds + Machines Group Limited (LSE: MMX) is the owner and operator of a world class portfolio of top-level domain assets (gTLDs). As a sales and marketing-led registry business, we are focused on commercializing our portfolio in partnership with our expanding global network of distribution partners.

 

The MMX portfolio is currently focused around geographic domains (e.g. .london, .boston, .miami, .bayern), professional occupations (e.g. .law, .abogado, and .dds), consumer interests (e.g. .fashion, .wedding, .vip), lifestyle (e.g. .fit, .surf, .yoga), outdoor activities (e.g..fishing, .garden, .horse) and generic names such as .work and .casa. As a business, we work through our expanding international network of registrars and distribution partners to bring the benefits of affinity based domain addresses to B2B and consumer audiences. For more information on MMX, please visit www.mmx.co


This information is provided by RNS
The company news service from the London Stock Exchange
 
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China premium sales update - RNS