TMN Group Nearly Doubles Profit, Appoints New CFO / COO

In London, online direct marketing organisation TMN Group plc has announced record revenue and profit levels. Its online panel specialist subsidiary The iD Factor experienced 90% growth.

In its annual statement, the group posted a revenue increase to £16.1 million from £9 million, while announcing that its operating profit levels had climbed to £3.28 million from £1.69 million for the year ending April 2007.

The iD Factor was slightly below forecast, but the firm says this was due to planned investment and sales ramp-up taking longer than expected, and adds that it is now well placed to take advantage of being part of a larger group. The company said that its iCD internal research consultancy division, which was launched in 2006, had also contributed to performance by capitalising further on the growth of online research.

With the staff count just passing 100 for the first time, CEO Mark Smith commented: 'Looking forward, we have the experienced staff and performance-enhancing services in place to be confident about taking an even larger share of a fast-growing market.'

In May the firm announced the promotion of Paul Dixon to the position of MD of The iD Factor (www.mrweb.com/drno/news6793.htm ) and in June it appointed Tim Heald in a business development capacity (www.mrweb.com/drno/news6831.htm ).

The Group has also announced the appointment of former Virgin Group CFO Craig Dixon as CFO/COO to replace Financial Director Peter Coveney who retires in August 2007.

The Group was established in 1999. The relevant web sites are at www.tmnplc.com , www.theidfactor.com and www.icd-research.com.