| Yell records 17.6% increase in revenue spurred by growth in the U.S. |
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LONDON: Directories publisher Yell Group Plc. recorded a 17.6 per cent increase in its revenues at 711.1 million pounds for the six months ended 30 September 2005 compared with the corresponding previous year period. The company said it is very much on track to meet the full year's expectations.
Adjusted EBITDA was at 232.9 million pounds, up 15.8 per cent, while pre-tax profit went up to 155.9 million pounds from 126.3 million pounds a year ago. It has proposed a 21 per cent increase in the interim dividend per share.
Yell said it will clear the projected pension deficit of 64.8 million pounds by paying a special contribution to the plan within three months. The company attributed the more than satisfactory results to continued growth in its U.K. business and a 14.0 per cent revenue growth in its U.S. business after the acquisition of Transwestern in July this year. Its U.K. revenue increased 5 per cent to 341.2 million pounds, mostly as a result of a growth of 56.7 per cent from Yell.com. Printed directories also recorded a growth of 1.7 per cent.
The company's group chief executive John Condron said the company will continue to cooperate in the regulatory investigations that are taking place into the U.K. directories' market.
Yell owns Britain's Yellow Pages and is the largest independent U.S. directory publisher.
Posted
on : Thu, 10 Nov 2005 06:35 GMT | Business News
By : Chris Rowe
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