CUP.L Share News (CUP)

- Revenues flat and slides into losses- Eyes profitability as it enters 2015- Dividend unchangedInternet dating operator Cupid said revenue for the year was flat but that it expects to be cash generative in the second half of the year and profitability to be at a positive run rate as Cupid enters 2015.The Edinburgh-based company said revenues from continuing business were flat at £26.6m for the year ended December 31st. It posted an adjusted earnings before interest, taxes, depreciation, and amortisation (EBITDA) loss of £2.8m compared to a profit of £4.2m the year before. Chief Executive Phil Gripton, who was appointed in November after the company sold of its casual dating sites amid allegations of fake user profiles, commented: "We are turning around and implanting solid foundations to our core dating division, transforming it into a sustainable, high quality, customer centric business."We have a big year ahead of us, and there are on-going challenges that we are addressing, but the early positive signs are that we are on track." Its cash position fell to £12.6m at December 31st 2013 from £14.1m the same time a year earlier.Cupid has proposed a final dividend of 3.00p per share, unchanged from 2012's payment.CJ