REUTERS - Sep 24 - Cupid PLC was hit by higher marketing and administrative costs. Adjusted pretax loss for the six months ended June 30 was £2.5M ($4M), from a profit of £3.5M a year earlier. Revenue rose 12.4% to £43.4M. Marketing spend increased 18% to £27.4M. Administrative expenses rose ~60% to £4M. Cupid said it expects continuing business to return to growth and profitability in 2014.
Cupid has been through the wringers. Its business has morphed considerably in the last few months. They've made changes for the better but it will take a while for the baby to emerge and show its potential. Meanwhile Match.com trudges steadily onwards and upwards.
Posted by: Mark Brooks | Sep 27, 2013 at 10:00 AM