LONDON (ShareCast) - Ingenta, the marketing services group, announced it was close to break even in the second half as the group slashed losses last year.
The group reported a pre-tax loss of just £0.3m for the year to December against a loss of £3.3m for the 15 months to December 2004. Sales in the year totalled £6.6m compared with £8.8m previously.
Chief executive Simon Dessain said, “In 2005 we significantly reduced our costs and implemented a new structure targeting the headline goal of achieving profitability on a sustainable basis.”
“The budget adopted by the Board for the coming year plans for ongoing trading improvements and thereafter delivery of further growth in revenues and profitability in future years,” added Dessain.
The group concentrated on reducing costs resulting in overheads before exceptional reduced by 26% to £5.5m from £9.5m last time.
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