Electronic information provider MAID this morning announced financial results for Quarter 4 1996 which show turnover jumping 57% to £21.4 million. Pre-tax losses were in line with expectations at £7 million. Corporate subscriber numbers trebled however from 1,200 to 3,800 and the company expects to become profitable this year.
Michael Mander, chairman of MAID, said: “Having made a substantial investment during 1996 building our global infrastructure, the outlook for 1997 and beyond is extremely positive. We have now stabilised our costs against the background of continued increasing revenues in both the core business and through alliance relationships.”
The company’s share price reacted well, rising 16p to 188.5p at 11:00.
MAID: 0171 9309600
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