14 Feb 2011 08:23
Vitesse Media plc
Trading Update
Vitesse Media Plc ("Vitesse Media" or "the Company"), the AIM listed media business, today issues the following update ahead of the announcement of its full year audited results to 31 January 2011. The Company confirms that it traded well in the last financial year and expects to meet the market's profit forecasts. This is a good achievement in view of the continuing difficult media sector conditions. Our online business has performed particularly well. There are promising signs for the Company this financial year, despite the unhelpful economic background. We have re-launched two websites, TaxGuide.co.uk and WhatInvestment.co.uk, and invested heavily during 2010 in our databases with a view to delivering higher revenues from data and all publications. In addition, we expect the pick up in event revenues, noticeably table sales, to continue and that there will be a small pick up in revenues from our print/digital magazines. We plan to invest further substantial sums in all our online assets and to invest more in marketing this year. The management team is increasingly confident that the business is poised to achieve healthy growth during the upswing of the economic cycle over the next few years.
Contacts:
Sara Williams / Leslie Copeland Vitesse Media plc 020 7250 7010
Jeremy Porter (Corporate Finance) Seymour Pierce Ltd 020 7107 8000
David Banks (Corporate Broking)