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Vitesse Media
- BY: Andrew Hore |
- POSTED: 22/02/2010 |
Financial publisher and events organiser Vitesse Media says that it returned to profit in the year to January 2010.
When house broker Seymour Pierce initiated coverage last October it expected Vitesse to breakeven in 2009-10.
Cost cutting has helped Vitesse to make a small profit, against a loss of £494,000 in the previous year. There was a £90,000 loss in the first half so this full year results represents a more significant second half profit. There are signs of recovery but management remains cautious.
At 10.5p a share, down 1p on the day, Vitesse is valued at £2.69m.
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