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Vitesse Media

  • BY: Andrew Hore |
  • POSTED: 10/06/2009 |

Online revenues are becoming more important for Vitesse Media.

They made up 27% of the £4.99m of revenues in the year to January 2009, up from £4.94m the previous year when online revenues were 22%.

The figures include a full year from Information Age which contributed three months in the previous financial year. This business is starting to make consistent contributions to overheads.

The financial information publishing group was running at breakeven in the final quarter of the year. The full year loss increased from £98,000 to £494,000. The operating cash outflow was £86,000 during the year. The average overdraft has been £40,000.

Overheads have been reduced by one-third over the past year - with more to come. All the publications are now in one office. Overall annualised savings should total £1.5m. Trading remains difficult but online advertising is improving.

At 14.5p a share, Vitesse is valued at £3.71m. 

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