22 Feb 2010 07:00
Vitesse Media Plc
Trading Update
Vitesse Media Plc ("Vitesse Media" or "the Company"), the AIM listed online, print and events company, today issues the following update ahead of the announcement of its full year audited results to 31 January 2010.
The Company confirms that in 2009 it has traded in line with market expectations and expects to make a small profit for the full year. In light of the very difficult economic and market conditions, this represents a significant turnaround from a reported pre-tax loss of £494k for the previous financial year.
Sara Williams, Executive Chairman, Vitesse Media said:
"2009 was an extremely challenging and difficult year. Despite this, we have maintained our market position whilst reducing overheads. Although we are seeing signs of recovery in advertising, events and subscriptions compared to the second half of the last year, we will continue to streamline our business to strengthen our ability to cope with difficult market conditions and further diversify our revenue base."
For further enquires please contact:
Vitesse Media Plc Sara Williams
Leslie Copeland
+44 202 7250 7010
Seymour Pierce Ltd
Nandita Sahgal
+44 207 107 8000