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Cupid cashes in on lonely hearts

Last updated: 09:35 05 Mar 2013 GMT, First published: 10:35 05 Mar 2013 GMT

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Online dating firm Cupid (LON:CUP) was on target with its full year figures, which showed revenues and underlying earnings rose sharply in 2012.

The company racked up significant improvements in all of its key metrics and saw revenues in new markets double.

Revenues for the group as a whole rose 51% to £80.9mln from £53.6mln in 2011, while adjusted underlying earnings (EBITDA) stormed 45% higher to £16.4mln from £11.3mln.

Reported profit before tax hardened 31% to £9.2mln from £7.0mln.

Paul McCartney may have written that money can’t buy him love, but love – or the pursuit of it – has ensured the money keeps rolling in at Cupid, with the company’s cash position increasing to £14.1mln at the end of 2011 from £7.8mln at the end of 2011.

That leaves plenty of wonga to pay out a final dividend of 3.00p which, as the company did not pay an interim dividend, means the full year dividend is also 3p, up from 2.25p in 2011.

That looks a stingy pay-out given the earnings per share of 13.99p; more a bag of Revels than the full luxury box of Terry’s All Gold.

“In addition to the strong financials, it has again been a year of investment, both through acquisitions, and also in our customer service levels, processes and procedures. We will continue this hard work to ensure significant steps are made towards our ambition to be an internationally recognised and admired leader in online dating and social discovery,” said Bill Dobbie, the chief executive of Cupid.

"Whilst it is still early in the year, we are confident that the business is well positioned for another year of healthy revenue growth, profitability and cash generation,” Dobbie added.

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