Permalink23 February 2010 at 10:22 by James West - CEO
Posted under News, Rambling CEO
Quarter 4 2009 wraps up last year with a 13% drop in revenue from 2008 for the Alamy group, resulting in a better than expected figure from our 15-20% forecast.
Our financial position remains strong however, with a 6.5% operating profit last year - just a couple of percentage points below our 'business as usual' number.
Despite the challenging year we have been investing in new infrastructure, product, and putting marketing plans together for a suite of new services coming online later this year. Our US sales operation is also continuing to grow. To support the sales team we have added a US customer service division (handling inbound calls and emails).
We think it is sensible to remain cautious about the near term - there's too much uncertainty to make bold statements about returning to growth anytime soon. However, we are still optimistic about the long term. Alamy has come through the first year of the worst recession in living memory with a healthy cash balance and a healthy operating profit.
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