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Video adverts on web give blinkx bright future

Video search engine blinkx said it expected to beat first-half forecasts after it doubled revenue thanks to rising numbers of searches and partnerships with the BBC and AccuWeather.

The group, which was spun-off from software firm Autonomy, said it would report revenue of about $27 million (£16.9 million) for the six months to September 30 and operating profit of more than $1 million (£626,900), beating analysts’ predictions of $630,000 (£395,000).

Founder and chief executive Suranga Chandratillake said blinkx would benefit from rapid growth in video advertising, noting that eMarketer estimates this market to jump by almost 500% over the next four years to $11.3 billion (£7 billion).

“We expect to further accelerate the growth of our business and given our market position remain confident of the outlook,” he said today.

Shares in blinkx have more than quadrupled since January 1.