18th Jan 2017 08:49
LONDON (Alliance News) - Best of the Best PLC on Wednesday reported growth in profit in the first half of its financial year, as marketing efforts helped to boost revenue, and said it is well-placed for future growth.
The company, which runs competitions to win cars, said its pretax profit in the six months ended October 31 almost doubled to GBP920,000 from GBP480,000 the year before, as revenue rose to GBP5.5 million from GBP5.0 million.
Online revenue, which represents three-quarters of total revenue, grew by a quarter to GBP4.2 million from GBP3.3 million.
Best of the Best said revenue growth was driven by investments into its marketing initiatives, with social media helping to acquire new customers.
"The business is well-placed for future growth, and we look forward to updating shareholders on progress in due course," Chief Executive William Hindmarch said in a statement.
Shares in the company were trading up 9.9% at 323.72 pence on Wednesday.
By Karolina Kaminska; [email protected]; @KarolinaAllNews
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