Debt Problems for Pulsar Group

Pulsar Group, formerly known as Access Intelligence and the parent of data firms Pulsar, Vuelio and Isentia, is the subject of a winding-up petition and is in talks with the UK tax authorities over timing of payments. The board says trading is stable and it expects to reach a satisfactory conclusion.

Vuelio, delivers monitoring, insight, engagement and evaluation tools for politics, editorial and social media, while Pulsar is an audience intelligence and social media listening platform and Australia-based Isentia provides an AI suite for PR and comms professionals, including media monitoring and insights. The AIM-listed Group is also home to PR service ResponseSource.

A winding-up petition is a legal process used against companies failing to pay debts, and can be issued by private companies or by HMRC itself against businesses with unpaid tax bills. According to Companies House Pulsar Group enjoyed record revenue of £33 million for the six months ending May 31st this year. The Group responded last week to news of the winding-up petition, with an RNS statement noting that it is 'in regular dialogue' with HMRC about VAT and PAYE payments, has already made 'substantial payments,' and 'expects the remaining amounts to be settled from the Group's normal cash collections.'

The statement added: 'The Group's underlying trading position is stable, the business is operating as normal and the Board anticipates reaching a satisfactory conclusion with HMRC. The Company will provide a further update as appropriate.'

The group is online at www.pulsargroup.com .

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