StockMarketWire.com - Online dating group Cupid expects revenues and profits for the year to the end of December to be substantially ahead of last time and in line with market forecasts.

The company's stated strategy of weighting marketing spend towards the first half of the year and generating even greater profits in the second half has been going to plan with second-half profitability tracking considerably higher than the first half.

In addition, strong cash generation means that the board expects to end the year with a robust, bank debt free balance sheet and over £11m of cash.

In the period since 30 June 2012, Cupid has acquired AGL in France and Uniform Dating in the UK.

Both acquisitions are trading in line with plan.

International growth plans are in place for both these businesses for early 2013.

Chief executive Bill Dobbie said: "We have made very pleasing progress during 2012, having continued our strong international growth both organically and by the addition of two new businesses.

"Our revenues continue to grow, and with the marketing spend reduced over the last six months as planned, we look forward to reporting profits substantially ahead of last year.

"We will end 2012 in a very strong position and we look forward to 2013 and beyond with confidence."




At 8:19am: [LON:CUP] share price was +9.38p at 186.38p



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