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DM

  • BY: Andrew Hore |
  • POSTED: 09/03/2009 |

Direct marketing group DM’s trading improved in the second half of 2008 and it is using its database to generate revenues from gaming.

DM plans to set up a DM-branded bingo and casino website with PartyGaming. This is the latest attempt by DM to generate revenues from its database of 23m postal addresses, 5.9m email addresses and nearly 12m fixed-line and mobile telephone numbers.

Revenues fell 9% to £18.3m for the year as a whole but second half revenues were higher - helped by an initial contribution from consumer lifestyle data provider Data Locator Group.

Restructuring and review costs totalled £613,000. After these costs profits fell from £4.88m to £4.16m in 2008. Since the year end DLG overheads have been reduced.

Net debt was £8.09m at the end of 2008. The underlying business generated cash but there was £3.25m spent on DLG. A 3.5p a share interim dividend was paid, costing £5.08m, but there will be no final dividend.

The key to 2009 will be the performance of DLG and the benefits of integrating it into the group.

At 10.75p a share, DM is valued at £15.6m. 

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