News blog
Vitesse Media
- BY: Andrew Hore |
- POSTED: 24/11/2008 |
Financial information publisher Vitesse Media says that third quarter revenues increased by 25%.
There was an additional contribution of £100,000 in the three months to October 2008 compared to the same time in the previous year. September and October were profitable for the first time in four years. Cost cutting earlier in the year has undoubtedly helped.
The highlights were BusinessXL, GrowthBusiness.co.uk, SmallBusiness.co.uk and Information Age. There was a decline in revenues from What Investment and M&A magazines.
Vitesse is raising £176,000 at 16p a share to fund investment and working capital.
At 19p a share, Vitesse is valued at £4.66m.
Chris Ingram has stepped down as a non-executive director but remains a shareholder.
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