Infoserve Group PLC
Bringing Business to You
Archived News - December 2006
Online Search Specialist Clicks in First Six Months
6th December 2006
Six months after floating on AIM, online local business search company Infoserve plc, has hit the impressive growth targets it set itself for the period, having increased customer numbers by 70%, achieved renewal levels of more than 65% and developed 750 websites for SMEs.
These achievements have resulted in a half-year turnover of £1.76 million, surpassing the turnover achieved during the whole of 2005, with gross margins improving to 23.2%.
In line with expectations, the operating loss before tax and amortisation of goodwill was £1,212,000.
To prepare for forecasted growth, Infoserve is relocating its Stockton-on-Tees sales operation to much larger premises at the newly opened Morton Palms Business Park in Darlington. The move, planned for the end of the year, will see the 125 employees relocating to the new 16,500 sq ft offices.
It has also increased its new job requirements for the Teesside operation by a further 50%. Initially the requirement was for 150 new people over the next 18 months but this figure has now increased to 225 following sustained success for the company since its flotation.
Infoserve, which has headquarters in Leeds, is also on target to launch a new website in January 2007 which will open up new markets, as it will make it even easier for consumers to match their searches with relevant local suppliers.
Commenting on the results, CEO Steve Barnes said:
“The first half year as an AIM listed company has seen Infoserve grow into a major force in the local search market.
“Our business model has proved robust and the second half of the year will see us increasing sales force numbers, as we move to our new Darlington premises, and thus scaling up the model further.
“With the market constantly evolving I am confident our development team will continue to keep us at the forefront of our sector.
“Use of online local searches and online advertising is predicted to increase rapidly and we believe we are well positioned to take advantage of this growth.”
Infoserve specialises in helping small and medium sizes companies promote themselves to people searching online for local goods and services. It lists almost three million businesses on its own business directory, www.cityvisitor.co.uk and also across a network of 280 websites, which receive more than 24 million visitors a month. Its network includes the websites of a number of major online media partners such as the Daily Telegraph, and the Daily Mail, as well as Football League official sites and Sky Digital.
