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DPG plots share buyback on healthy outlook

DPG plots share buyback on healthy outlook

Digital marketing company Digital Performance Group (ASX:DIG) has approved plans for a share buyback, after revealing it forecasts healthy ebitda growth in FY12.

DPG on Friday announced that it would buy back and cancel up to 10% of its shares, in on-market transactions scheduled to commence on or around August 29.

A day earlier, DPG confirmed its FY11 guidance of an ebitda from continuing operations of between $2.6 million and $2.8 million.

DPG also advised that its two operating businesses are targeting a total underlying ebitda of up to $3.6 million in FY12.

Before front office costs, this would translate to an operating ebitda of between $4.95 million and $5.45 million.

Loyalty website advertising provider Empowered Communications expects to contribute between $2.95 million to $3.25 million to operating ebitda.

Multi-channel advertising company dgm Australia meanwhile expects ebitda of between $2 million to $2.2 million.

DPG shares spiked 23.08% on Friday to $0.016.

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Tags online advertisingshare buybackDigital Performance GroupGuidanceASX:DIG

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