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Data specialist Twenty hit by revenue plunge

AIM-listed data sales and services company Twenty has revealed a pre-tax loss of £598,000 after first-half revenues dropped by a third year on year.

Twenty: company's first-half revenues are down by a third

Twenty: company's first-half revenues are down by a third

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Twenty's board has been publicly considering strategic options for the company since June and non-executive chairman Mark Patron had no update this week, save for saying it hoped to conclude the process by the end of the year.

The company's data sales division, which offers information on home movers to brands, made an operating loss of £295,694 on revenues of £107,594.

Patron admitted the division had "yet to develop as originally planned".

CRM and analytics services accounted for revenues of £758,654, down 35% year on year, which the company blamed on failure to replace clients lost to the economic downturn. The division made an operating loss of £63,053.

In 2010, the company made a full year pre-tax loss of £6.7m after taking a goodwill impairment charge of £4.8m.

Twenty was launched in 2005 and went on to acquire Dataforce, analytics company eMaginating, e-commerce specialist Ominor, and The Moving Service in 2010.

Follow Daniel Farey-Jones on Twitter @danfareyjones

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