viewDotdigital Group PLC

dotdigital on track with “ambitious growth plans” as strong trading momentum continues

“The board is very pleased with the group's current progress and remains confident in achieving its ambitious growth plans”

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The firm’s recent acquisition, Comapi, is settling in well

Bulk email specialist Dotdigital Group plc (LON:DOTD) is on track with its “ambitious growth plans”, with the strong trading momentum reported earlier this year showing no signs of stopping.

dotdigital’s non-executive chairman Frank Beechinor-Collins will tell shareholders at Tuesday’s annual general meeting that the continued progress is being driven by “strong international sales and growing demand for dotmailer in the ecommerce market”.

READ: Dotdigital snaps up customer engagement group Comapi for £11mln

The AIM-quoted company has continued to strengthen its relationships with key partners including Microsoft Dynamics, Shopify and leading B2B and B2C commerce platform Magento.

In fact, the latter recently launched a new version of Magento 2.2.2 which incorporates the dotmailer connector – allows platforms to integrate ecommerce data with dotmailer – in the new code base.

“This feature positions dotmailer as Magento's preferred partner for marketing automation and allows its global user-base to register for, download and incorporate the dotmailer product into their operations within moments of taking the decision to do so,” Beechinor-Collins will say.

READ: DotDigital making progress on all fronts

Last month, dotdigital unveiled the £11mln acquisition of customer engagement firm Comapi.

The integration of Comapi’s messaging capabilities into the dotmailer platform is well underway and is expected to be launched at dotdigital’s annual summit in the spring.

On top of that, Comapi has also recent won a “significant contract” which helps to underpin its revenue expectations for 2018.

“The board is very pleased with the group's current progress and remains confident in achieving its ambitious growth plans,” the chairman will tell investors.

Brokers reckon shares are worth at least £1

“dotdigital continues to justify its premium rating, comfortably achieving every target it strives for, and deploying the strength of the balance sheet to best use,” wrote finnCap analyst Andrew Darley this morning.

“100p target reiterated with plenty more upside to be gained with continuing demonstration of very high quality execution.”

Shares rose 1% to 96.4p early Tuesday.

--Updates for share price and broker comment--

Quick facts: Dotdigital Group PLC

Price: 137 GBX

Market: AIM
Market Cap: £408.11 m

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