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Thomson Intermedia

• BY: Andrew Hore |
• POSTED: 23/07/2008 |
• COMMENTS: Add yours

Thomson Intermedia reported figures broadly in line with downgraded expectations.

Revenues of the media intelligence business grew 8% to £17.2m in the year to April 2008. There was a contract renewal rate of 92%. A write down of capitalised development costs and restructuring charges meant that Thomson swung from profit of £558,000 to a loss of but, stripping exceptionals out, the underlying profit was unchanged at £1.8m. Net debt fell from £3m to £2.1m.

The shares rose 2.5p to 33.5p, valuing Thomson at £10.7m.

This year will be the first full period for the current management team. They have already announced a restructuring of the product range. Advertisers will want to monitor the effectiveness of their spending which should be good news for Thomson.

Landsbanki forecasts profits of £2.3m on revenues of £19m in 2008-09. The shares are trading on just over six times forecast earnings.

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