Marketing services group Twenty has won a contract worth £400,000 a year with nightclub operator Luminar.
On top of that there is a £150,000 direct mail fulfillment contract. The deal covers 103 outlets and is for an initial term of one year with an option to extend the contract. The core of the contract is database management and an integrated marketing platform.
This business helps to replace a £3m contract lost last year. The new work was already included in new house broker Daniel Stewart’s forecasts. It expects profits of £800,000 in 2007, down on the figure of £930,000 for 2006 which didn’t include a full 12 month contribution from the Dataforce acquisition in April 2006. As newer work flows through in 2008 the profits are forecast to recover to £1.35m.
The shares have slipped back to 12.5p since the disappointing interim results. They are trading on eight times forecast 2008 earnings.
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