IPT posts 60% pre-tax profit fall for first half of 2007

by Alex Donohue, Brand Republic 02-Oct-07, 11:55

LONDON - Interactive Prospect Targeting has recorded a 59.6% fall in pre-tax profits to £706,000 for the first half of 2007, but revenue has risen by 57% to £15.4m for the period to cap a topsy-turvy half year for the business.

The company, which last month revealed it had received takeover interest, experienced product delivery complications earlier this year.

However, it also claimed to be experiencing strong trading conditions into the second half of the year. Revenues are likely to grow again in future after the acquisition in June of NP6 SAS, a French email marketing company for €9.4m (£6.5m).

Data companies DLG and TMN Media last month denied they were interested in acquiring the company, putting the speculation down to "a lot of interest in the data area".

Lionel Thain, chief executive officer of IPT, said: "The company encountered product delivery issues earlier in the year which have been fully resolved and we are pleased to have recovered well.

"The actions taken by management have significantly strengthened IPT's technology and operational processes. Furthermore, the successful acquisition of NP6 SAS has strengthened our position in France and together with our French subsidiary Directnet provides a major foothold in the rapidly expanding French online marketing sector."

The company confirmed that ongoing discussions were taking place with unnamed parties about the sale of the business, and that an announcement would be made in due course.