Shares of CentralNic Group Plc (LON:CNIC), sank after releasing its financial results for the six months ending June 30, 2016.

After hitting a 52 week low of 38p, shares of CentralNic closed at 39.5p down over 14% from its previous closing price of 46p.

Over 1,000,000 shares were traded in the company which has an average daily volume (3m) of just over 84,000 shares.

CentralNic has a 52 week high of $77.12p.

The only thing I found really interesting in the earning of the wholesale unit, as they call it which we would call the part of the company that serves as backend for new gTLD’s like .xyz,  generated revenue of just £1.6m on 8.2 million domain names; which would be only £.20 per domain.

ICANN charges new gTLD operators$.25 for each domain name and don’t provide any direct service as such to the new gTLD registries.

CentralNic made on average just over $.26 per domain name for its backend services.