Cupid continues strong performance

Cupid, the internet-based dating operator, has confirmed that its financial performance is set to be in line with consensus market expectations after a continued strong performance.

Both revenue and profits are expected to be substantially ahead of last year, while cash levels are set to end the year at over £11m.

The firm said acquired business AGL and Uniform Dating are both trading in line with expectations and international growth plans are in place for 2013.

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"Looking ahead, the company anticipates further strong growth in 2013 and will once again follow a strategy of weighting marketing spend towards the first half of the year," it said.

"With such rapid growth in revenues, profits and cashflows, Cupid is now delivering a financial performance that is at least one year ahead of where the company expected to be when it floated in June 2010.

Bill Dobbie, Chief Executive Officer of Cupid, said: "We have made very pleasing progress during 2012, having continued our strong international growth both organically and by the addition of two new businesses. Our revenues continue to grow, and with the marketing spend reduced over the last six months as planned, we look forward to reporting profits substantially ahead of last year. We will end 2012 in a very strong position and we look forward to 2013 and beyond with confidence."

The share price rose 5.565% to 187p by 09:30.

NR