29 May 2013 14:39
| Date: | 29 May 2013 |
| On behalf of: | Cupid plc ('Cupid', the 'Company' or the 'Group') |
| Embargoed until: | Immediate release |
Cupid plc
Comment regarding share price movement and trading update
Share price movement
The Board of Cupid plc (AIM: CUP) notes recent movements in the share price of the Company and confirms that the Company is in discussions with third parties which may lead to an offer for Cupid's casual dating business. There can be no certainty as to whether any offer will be forthcoming.
Trading update
As stated in our March release we continue to focus on devising and implementing a number of initiatives aimed at improving the customer experience and the quality of traffic. Whilst the changes will have a short term impact on revenues and profitability, the Company believes that they will increase life time value of customers and reduce churn rates. At the half year therefore, while revenues are expected to be 13% ahead of last year driven by a strong performance from Uniform Dating and AGL, on a like for like basis revenue is expected to be 1% behind 2012. With marketing spend higher than 2012, at the half year EBITDA will be around £2.5m (2012 - £5.9m).
It is too early to say what the full year effect of the various changes we are making will be.
The results of the independent audit are still expected by 30 June.
Further announcements will be made by the Company as appropriate.
For further information please contact:
Cupid plc | Tel: +44 (0)131 526 3600 |
Bill Dobbie, CEO Niall Stirling, CFO | |
Peel Hunt LLP (Nominated Adviser and Broker) | Tel: +44 (0)207 418 8900 |
Richard Kauffer Daniel Harris | |
Redleaf Polhill | |
Emma Kane Dwight Burden David Ison | Tel: +44 (0)207 382 4730 cupid@redleafpr.com |
Notes to Editors
§ Cupid plc listed on AIM in June 2010 and is a leading provider of online dating services
§ Cupid has built significant and growing revenues in 15 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 and www.girlsdateforfree.com. The Group also promotes the niche brands www.datingforparents.com, www.indiandating.com, www.loveagain.com and www.uniformdating.com.
§ Cupid plc products are available across the web and also via mobile application stores.
§ Further information on the Company can be found at www.cupidplc.com.
IDE.L (IDE)