17 Jan 2011 07:00
| Date: | 17 January 2011 |
| On behalf of: | Cupid plc ('Cupid' or the 'Group') |
| Embargoed until: | 0700hrs |
Cupid plc
Trading Statement
and
Appointment of Nominated Adviser and Broker
Pre-close trading statement
The Board of Cupid plc (TIDM: CUP), a leading UK online dating company, today announces an update on trading for the year ended 31 December 2010.
Cupid has continued to trade well since the revised, upgraded expectations given on 17 November and expects to report results that are slightly ahead of these expectations for the year ended 31 December 2010. In addition, the Group has started 2011 strongly and the Board looks forward to updating shareholders on further progress.
It is anticipated that the final results for the year to 31 December 2010 will be announced on 8 March 2011.
As stated at the time of the IPO, the Group believes there is significant opportunity to drive continued revenue and profit growth in this highly fragmented market. The Group will continue to focus on expanding its niche offerings, growing new geographical territories and enhancing value through acquisitions.
Bill Dobbie, Chief Executive said:
"We are delighted with the excellent progress Cupid has made in its first six months as a public company. Cupid continues to grow rapidly as it successfully integrates the acquisitions it has made; in addition, global expansion is progressing well andremains an important element of the Group's strategy. The Board continues to pursue a number of opportunities to develop the business further in order to increase shareholder value and looks forward to updating shareholders in March."
Appointment of Nominated Adviser and Broker
The Board is also pleased to announce the appointment of Peel Hunt as its Nominated Adviser and Broker with immediate effect.
For further information please contact:
Cupid plc | Tel: +44 (0)131 220 1313 |
Bill Dobbie, CEO Mark Doughty, CFO
| |
Peel Hunt (Nominated Adviser and Broker) | |
Richard Kauffer | Tel: +44 (0)207 418 8900 |
Daniel Harris
| |
Redleaf Polhill | Tel: +44 (0)207 566 6700 |
Henry Columbine Luis Mackness | cupid@redleafpr.com |
Notes to Editors
·; Cupid plc (formerly Easydate plc) listed on AIM in June 2010 and is a leading provider of online dating services
·; Cupid has built a base of over 13 million registrants and over 9 million members in 29 countries (those countries with over 1,000 members), with a growing proportion of members coming from outside of the United Kingdom.
·; Cupid offers a wide variety of online dating services allowing members to interact with each other and access the content available on the Group's websites. These websites are intended to appeal to dating users of diverse ages, cultures and social interest groups. The Group's most heavily visited websites include www.cupid.com, www.flirt.com, www.benaughty.com, www.girlsdateforfree.com and www.datetheuk.com. The Group also promotes the niche brands www.datingforparents.com, www.speeddater.com and www.maturedating.co.uk.
·; The majority of services are also available via Apple and Android App Stores for mobile users as well as through their own Facebook apps - eg. http://apps.facebook.com/cupidcom and http://apps.facebook.com/benaughtynow.
·; Further information on the Company can be found at www.cupidplc.com.