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Firm reduce losses and plans to recruit
16th December 2008
An online search company has overcome recruitment problems to enjoy two record-breaking months of sales.
Despite yesterday posting a loss for the six months to September, turnover had improved on the previous year for Infoserve, which employs more than 200 people in Darlington.
The company, which provides small and medium sized businesses with online marketing, also revealed that it exceeded record sales in September of £484,000 by £58,000 in October.
The interim figures released yesterday showed that turnover had increased by 18 per cent on the same period last year to £2.65m. Cost of sales reduced by £0.49m through improved productivity.
Gross profit was £0.79m, against a £0.11m loss for the same period last year, and overall loss before tax was £0.60m, a reduction of £1.35m on last year.
A year ago, the company, which moved its call and sales centre to Darlington’s Morton Park in 2006, partly blamed difficulties in recruiting sales staff for revenue being lower.
Chief executive Steve Barnes said: “We have probably benefited with other people’s difficulties with staffing, we are getting more and better quality people coming to us now. Sales recruitment numbers are up and productivity per person is up. Hopefully, we are not that far away from going through the curve to pre-tax profitability.”
Mr Barnes said that despite the global economic problems businesses saw the need for an online presence.
He said: “It is not difficult for any business to recognise you have to be online. That is now where people look for things. We are one of the few companies I know of that are expanding.
If our recruitment continues the way it has done for the past couple of months, and the productivity per person is good, I remain confident the analysts expectations will be more than met in the next year.”
Infoserve is the only firm of its type in Europe in partnership with internet search companies Google and Yahoo.
Internet advertising last year was worth more than £2.7bn, with statistics showing that 97 per cent of 18 to 24year-olds first log on to Google or Yahoo each time they use the internet.
For further information, please contact:
Peter Downey
Source Marketing Communications
Tel: 0113 380 1644
Email: peter@sourcemc.co.uk
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