Partner Article

Infoserve makes debut in the black

ONLINE search firm Infoserve today delivered its first full year profit as it set out plans to open a new call centre.

The Leeds-headquartered company which employs around 130 at its Darlington office, saw its turnover increase by 11% to £6.1m in the year ended 31 March 2010,

The firm achieved a pre-tax profit for the first time, with profits up £1.1m on the last financial year.

Earlier this year, the company announced the successful restructuring of its debts, converting £2m debt into equity and arranging a new £800,000 loan facility.

Following the year-end, the group signed a joint venture agreement with newspaper group Iliffe News and Media Limited to provide a combined internet and print advertising package.

A company statement said: “The macro economic difficulties have affected most businesses in the UK, and we have seen marked evidence of a substantial downturn in marketing expenditure in certain of our customer categories.

“While online advertising, and the group’s revenues continue to grow, in the medium term the wider economy is unlikely to provide stimulus and impetus on its own. We believe that initiatives such as our joint venture that bring together a range of media will continue to provide the best opportunity for the group as customers will seek to purchase a number of services from a single trusted source.”

This was posted in Bdaily's Members' News section by Ruth Mitchell .