Velti jumps as profits soar

A sharp rise in profits on the back of continued strong demand for non-traditional advertising sent shares in mobile marketing and advertising group Velti soaring.Adjusted pre-tax profits in the year to December 31 soared to $26.9m from $7m the previous year as revenues jumped to $90m from $49.5m.'We are positioned to benefit from the current spending shift from traditional solutions to more precisely targeted, interactive and measurable marketing and advertising campaigns,' said chief executive Alexandros Moukas. 'We have invested in new technologies, new geographies and a world-class team and, as evidenced by our strong results for 2009, our investment is delivering returns.'Among the new products the company is pinning its hopes on is the Velti mGage, a platform used by customers to plan advertising campaigns. Velocity Comp