MediaCorp Flags Further Strong Growth in 2007

Media Corporation plc said this week that it was well positioned to expand its online media businesses and that it was optimistic it would build further on its strong performance in 2006.

London (PRWeb) March 5, 2007 -- Media Corporation plc said this week that it was well positioned to expand its online media businesses and that it was optimistic it would build further on its strong performance in 2006.

In his statement in the group's annual report released this week, MediaCorp Chairman Jason Drummond said his board viewed the future with confidence.

Because of our strong position in the gaming search market, we were potentially exposed to the changing regulatory environment,' Mr Drummond said.

It has been a remarkable strategic transformation for the London Stock Exchange AIM listed Media Corp. In the 2006 financial year to the end of September the Group reported in its Annual Report full year revenues of £12m and record annual after tax profit growth of 600% to £2.5m. The Group had also built a healthy cash balance of £5.3 million which it has earmarked for funding further growth.

The London-based group has developed a market leading position in online vertical search - a more specialized form of Internet-based search than available from such general search engines such as those offered by Google, MSN or Yahoo!, and in online advertising through its online advertising agency division eyeconomy.

In December eyeconomy delivered a record 30 million unique visitors to its clients' sites - over half the UK's total 42 million Internet users - through its unique subsites and sublines technology.

"Because of our strong position in the gaming search market, we were potentially exposed to the changing regulatory environment,' Mr Drummond said."But our team running the online vertical search portal covering all aspects of gambling - although not directly involved in online gambling - reacted very swiftly by setting up new geographic targeting technology within the back end system which enabled advertisers to reorganize their search listings into three separate categories: UK and Rest of the World."

As a result Media Corp was able to offer clients and advertisers a product that did not run any risk of falling foul of the new legislation.

At the same time, Media Corp accelerated its strategy of broadening its vertical search portfolio by growing organically and by making strategic acquisitions by using its strong balance sheet.

Enquiries:

Media Corporation plc    Justin Drummond, Chief Executive
+44 (0)20 7618 9000      Paul Tuson, Finance Director

Canaccord Adams Limited   Mark Ashurst, Managing Director
+44 (0)20 7050 6500

Holborn PR         Trevor Phillips, Director
+44 (0)20 7929 5599

Notes to editors:

Listed on the AIM market of the London Stock Exchange, Media Corp, is a leading internet media and advertising Company focused on search, web -site publishing and media sales.

The company has three principal divisions:

Search Technology - The vertical search specialists building sector specific search engines for advertisers to communicate in a highly targeted environment with their particular audience. All of our Search and Media products are powered by our own high performance proprietary technology. www.searchfocus.co.uk.

Publishing - Media Corp has a diverse publishing division specialising in online media. Our impressive list of websites includes a number of market leading sites including www.creditcardexpert.co.uk, www.onthebox.com, www.freedeal.co.uk.

Media Sales - Formed in 1996, Eyeconomy specialises in mass reach campaigns to over 30 Million unique consumers via its own proprietary ad-serving and tracking technology for clients including AOL, Dell and American Express. www.eyeconomy.co.uk.

###