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 per cent 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 per cent on Friday to $0.016.