Cupid slips despite new markets

Couple holding hands against sunset backgroundCupid misfired its arrow as it turned off investors with under-pressure profits and a slowdown in sales in long-term markets including the UK.

The owner of Cupid.com and BeNaughty.com said revenues from established markets, such as the UK, Ireland and Australia, increased 6% in the six months to June 30 to £16 million, compared to 38% in the year to December 31.
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While revenues from new markets, such as the US, France, Italy and Spain, increased 122% to £22.2 million, pre-tax profits still fell 5% to £3.7 million, triggering a 1% drop in Cupid's share price.

However, the Edinburgh-based firm said it was confident it will continue to deliver value to shareholders as it pushes further into the US and other overseas markets.
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