Vitesse Media (LON:VIS), the AIM listed business media group behind the likes of the Growth Company Investor Show and Business XL magazine this morning, reported that trading during the first half of the year had continued to match market expectations. In an update ahead of its interims for the period to July 31, 2010, the company said it had built on the profitable turnaround achieved in 2009, when it made £36,706, and would deliver a profit in the first half. It said it was a significant improvement on the same period of the previous year when it lost £272,000.

The second quarter of the year, which is traditionally Vitesse’s weakest quarter of the financial year, showed a like-for-like sales increase of 3.5% over the same period in the previous year. The company said it was looking forward with confidence to the second half of the year and expecting its results to show further substantial improvement, in line with market expectations.

At the end of 2009 Vitesse’s chairman Sara Williams described the year as “undoubtedly the most difficult trading period that the company has endured”. During the year, despite having already trimmed costs, the management team had to make further cost savings and reduced the headcount again.

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