Cupids arrow strikes gold - nebusiness.co.uk

ONLINE dating specialist Cupid said profits doubled after it spread the love by expanding into new overseas markets.

The firm, whose websites include Flirt, Be Naughty and Girls Date for Free, said underlying earnings increased by 137% to 5.7m in the half-year to June 30, which was better than City expectations.

Revenues nearly trebled to 25.4m, boosted by moving into new markets such as Brazil, Germany and Italy, meaning it now has a presence in every continent. It has some 34 million members, with about 15 million in the UK.

UK revenues increased by 68% to 11.9m, but the Edinburgh-based companys rapid growth overseas means these markets now account for 53% of its revenues, compared to 19% a year ago.

It said it is now one of only a handful of truly international internet dating companies.

Cupid has benefited from the popularity of Facebook, with rapid growth in the number of people using applications to use its services through the social networking site.

It operates one of the top Facebook apps downloaded globally and 40% of its users now visit via the site or from mobile phones or tablet computers.