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Digital Marketing Group

  • BY: Andrew Hore |
  • POSTED: 02/09/2011 |

Former Digital Marketing Group chief executive Ben Langdon sold his 3.4% stake in the company on 18 April but he did not inform the company until 1 September.

The disposal happened a fortnight after Langdon left the board.

Digital Marketing reported a fall in underlying profit from 5.5m to 3.4m in the year to March 2011. The financial services sector is an important customer base for the data services business and this was weak last year. Current trading is mixed. House broker FinnCap expects a small recovery in profit to 3.7m this year, although the tax rate will rise from a nominal figure to 28%.

Digital Marketing is yet to appoint a new chief executive.

Henderson Global has edged up its stake to 15.1%.

At 16p a share, Digital Marketing is valued at 11.9m. The shares are trading on less than five times prospective 2011-12.

Download the August 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFAugust2011_23.pdf

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