Rapid Growth for iD Factor Owner

UK online marketing specialist themutual.net plc has announced results for the year ending April 30 2006, including a trebling of its annual turnover to £9m and operating profit more than doubled to £1.70m. The group is the parent of online fieldwork agency the idFactor.

Earnings per share have also nearly trebled, from 1.2p to 3.5p. The results were well ahead of analyst expectations set earlier in 2006, of c. £6.5m turnover and c. £1.5m profit. Broker Investec has forecast sales of £16m and profits of £3.2m for the financial year just started.

The group says all its divisions made a strong contribution to growth. The iD Factor itself made a loss on the year, but TMN stresses the turnaround in its bottom line since its acquisition in December 2005, at which point losses for the year-to-date totalled around £150,000. For the two months March and April 2006 the MR agency managed a profit of just over £50,000.

CEO Mark Smith comments: 'TMN plc's strong performance supports all the evidence that online spend is surging but more importantly that we've adopted the right strategy to capitalise on the surge. The success of our recent acquisitions, rebrand and the recruitment of senior personnel have put us in the best position to take advantage of the interest in marketing, research and retail online.'

TMN has been listed on AIM since 2000 and is based in central London. The other divisions are TMN Media (email database owner/manager and operator of a major rewarded shopping portal); dedicated email advertising agency EDR; and Enterprise & IT, which has a part-internal remit to improve systems and seek synergies.

The group is online at www.tmnplc.com . The iD Factor, whose main panels are Home of Research (consumer) and TechTank (technology enthusiasts) is at www.theidfactor.com .

All articles 2006-23 written and edited by Mel Crowther and/or Nick Thomas, 2024- by Nick Thomas, unless otherwise stated.

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