Newly-filed accounts for the year to December show sales at the firm, which conducts online marketing and search engine optimisation, were static at £17.3m although it halved pre-exceptional pre-tax losses to £721,000. After stripping out restructuring costs the business saw a further improvement in pre-tax losses to £566,000, from £744,000
Managing director Richard Gregory told TheBusinessDesk.com the firm was in profit in the final quarter of 2011 and has since seen 30% sales growth. "We've held our nerve, and the acquisition by Callcredit allows us to keep the same headcount and focus on some of the technology we've been developing," he said.
This has involved developing white label search services aimed at small and medium-sized businesses for the larger groups such as BT.
"It's a story of continued investment. Even though we had loss-making numbers in 2010-11 we ploughed money into growth areas and we backed the right processes," said Gregory who has moved from the chief operating officer role, replacing Alex Hoye who is leaving to focus on his ski-making business, Faction Skis.
In their report the directors said: "Latitude Digital Marketing has had a challenging year as the marketing sector has still shown little growth throughout the economy. However, the company has managed to increase the gross profit figure by over 250% in comparison to 2010."
Source: The Business Desk
