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TMN Grows Despite Email Marketing Problems
The growth of MR subsidiaries iD Factor and ICD Research is expected to help parent TMN plc to full-year pre-tax profit within 10% to 15% of management predictions, despite a significant shortfall at its email marketing agency EDR. The latter's quarterly revenues will be around £1.5m below earlier predictions.
The digital marketing group says the shortfall is the result of a downturn in demand from EDR's financial services clients. In a trading update, the board said that elsewhere in the group, TMN's research and media divisions have continued to trade well.
The board added that it remains fully confident that the group is well positioned for the future with its offering encompassing email and web site marketing, lead generation, affiliate marketing and online market research together with a strong and growing client base.
Earlier in the month, rival Tangent Communications pulled out of talks to acquire TMN, while newspaper publisher Trinity Mirror and private equity firms August Equity and 3i were believed to have expressed an interest in buying the business.
The board reiterated that discussions regarding a possible offer for the company continue and announcements relating to this will be made as soon as appropriate.
Following the EDR announcement, shares fell 10.4%, to 47.5 pence.
Earlier this week, The iD Factor's Commercial Director Tim Heald found his way into the UK papers - and DRNO by lobbing a stress ball at Respect MP George Galloway as he campaigned on an open-top bus outside the firm's offices.
Web site: www.tmnplc.com .
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