Buoyant Infoserve encouraged by 12% rise in turnover
Dec 17 2009 by Andrew Mernin, The Journal
ONLINE local search specialist Infoserve has slashed its operating losses on the back of a 12% rise in turnover to £3m, the company said yesterday.
The Leeds firm, which is in the process of recruiting 60 new workers to bring its Darlington workforce up to 200 by next spring, said its pre-tax losses in the six months to September fell to £200,000 – down from £600,000 the previous year.
Turnover rose 12% to £2.95m, while gross profit climbed 18% on last year to £990,000.
Chairman James Newman said: “The first half of 2009, whilst operationally challenging, was encouraging as we saw the continued benefits of our overhead reduction programme and increases in revenues and gross margin combine to produce a dramatic improvement in our financial performance.
Chief executive Steve Barnes said: “The second half has started well and we are confident that the second half results will reflect continued higher average daily sales and cost control.”
Infoserve provides mainly SMEs with online marketing products through its partnership with Yahoo!, its own extensive product range and Google AdWords campaigns.
