IBG Info-only18 Oct 2005 11:07
Smaller stock to watch
Internet Business Group (IBG), the AIM-listed online advertising and web-hosting specialist, surged 3½p to 15¾p on reporting that profits for the financial year to October 31 are likely to be 40 per cent higher than market expectations. Further, the company said it also expects turnover and profits for next year to be significantly ahead of forecasts. IBG pinned the upgrade on AffiliateFuture, its affiliate marketing network, which is expected to account for 65 per cent of sales this year. WH Ireland, house broker, repeated its “buy” recommendation, citing IBG’s steep discount to ValueClick, its larger Nasdaq-listed rival.
Smaller stock to watch
Internet Business Group (IBG), the AIM-listed online advertising and web-hosting specialist, surged 3½p to 15¾p on reporting that profits for the financial year to October 31 are likely to be 40 per cent higher than market expectations. Further, the company said it also expects turnover and profits for next year to be significantly ahead of forecasts. IBG pinned the upgrade on AffiliateFuture, its affiliate marketing network, which is expected to account for 65 per cent of sales this year. WH Ireland, house broker, repeated its “buy” recommendation, citing IBG’s steep discount to ValueClick, its larger Nasdaq-listed rival.