XLMedia exploring sale of personal finance division

London-listed XLMedia has announced plans to exit the personal finance business in order to focus on gaming affiliate opportunities in the United States.

XLMedia said Thursday that the business is restructuring its personal finance division and exploring the potential sale of all personal finance assets, with discussions underway with a number of potentially interested parties.

“These actions reflect the company’s decision to prioritise resource allocation to its core activities and remain focused on fully capturing the North America market opportunity in sports and gaming while also rebuilding its European sports and gaming operations to seek maximum value for shareholders,” the company said in a statement.

XLMedia’s personal finance segment generated revenue of US$0.8m in the first six months of this year, a significant fall from $6.6m in the same period a year ago, accounting for just 2 per cent of group revenue in H1.

Shares in XLMedia plc. (AIM:XLM) were trading 0.94 per cent lower at 15.85 pence per share in London early Friday morning.