22 Nov 2011 07:00
Date: | 22 November 2011 |
On behalf of: | Cupid plc ('Cupid' or the 'Company') |
Embargoed until: | 0700hrs |
Cupid plc
Pre-Close Trading Update
Cupid plc today issues a pre-close trading update for the financial year to 31 December 2011 ('2011').
With just over a month to go until the end of the financial year, the Board of Cupid plc is pleased to announce that the Company has continued to perform strongly with revenue and profits substantially ahead of last year and is confident that the 2011 financial performance will be in line with the consensus of current market expectations.
Similar to 2010 and in line with its strategy for growth, the Company has substantially increased online marketing spend during the second half of the year. This is expected to underpin growth in revenue and profits in 2012 and beyond.
The acquisitions made in the past 4 months in Brazil and Germany have successfully integrated into the Company's platform and the planned increase in marketing spend is also expected to deliver growth in revenue and profits in both these markets.
Bill Dobbie, CEO of Cupid plc, said:
"We are very pleased with the progress we have made expanding internationally whilst preserving our revenue and profit growth. We now have a footprint in 15 revenue earning countries and are ending 2011 in a strong position.
The Board is confident in the Group's ability to continue to win market share and deliver further sustained growth. The Board continues to review opportunities in the market for further acquisitions and is well supported by a strong balance sheet. We look forward to 2012 and beyond with confidence."
Enquiries:
Cupid plc | |
Bill Dobbie, CEO Mark Doughty, CFO
| +44 (0)131 220 1313 |
Peel Hunt LLP (Nominated Adviser and Broker) | |
Richard Kauffer Daniel Harris
| +44 (0)20 7418 8900 |
Redleaf Polhill | |
Henry Columbine Luis Mackness
| +44 (0)20 7566 6720 cupid@redleafpolhill.com |
Notes to Editors
·; Cupid plc listed on AIM in June 2010 and is a leading provider of online dating services
·; Cupid has built a base of over 34 million members in 39 countries.
·; 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.indiandating.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.