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IQ Hopes for Profit in Second Half
Loss-making AIM-quoted B2B research specialist IQ Holdings Plc has announced interim results for the period ended 31 March 2009. The Board says it has taken 'decisive actions... in line with bringing IQH into profitability in the shortest possible timeframe'.
In April, the firm said that losses 'cast doubt on its ability to continue as a going concern': however, in the six months to 31st March, sales increased 113% to £980,000. The Board says its actions include the cessation of trading at fieldwork firm The Wire, eliminating costs at IQ Research Limited, cost efficiencies at Rosslyn Research which have returned it to profitability, and the appointment of Gale Blears to the Board. It notes that the business of fieldwork firm Viewpoint 'is robust and will drive the immediate and future revenues of the Company'.
Analysts GE&CR have maintained profits forecasts for the 2010 and 2011 financial years, called the firm's shares a BUY at 0.35p or below and set a price target of 0.43p, and believe that in the second half the Group will trade profitably .
Web site: www.iqresearch.co.uk .
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