Digital Marketing H1 profits fall

EBITDA before share based payments fell to £3.63m from £3.85m with gross profits down at £17.44m compared with £18.72m last time.

Life-for-like costs were reduced by £4.24m to £16.56m and the firm had net debt of £6.02m and undrawn banking facilities of £4.94m.

Chairman Stephen Davidson said: "Despite the economic environment, we have produced a resilient set of results and remain confident for the coming months.

"As I stated at our full year results in July 2009, we have experienced a tough trading environment along with the rest of the industry; but our extremely experienced management team and innovative product offering mean we are now in the ideal position to take advantage of the increased spend in digital marketing which we anticipate during 2010 and beyond."

Story provided by Business Financial Newswire