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Interactive Prospect swings to loss on poor UK ops

Tue Sep 30, 2008 3:26am EDT

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Sept 30 (Reuters) - Online marketing group Interactive Prospect Targeting Holdings Plc (IPTH.L) on Tuesday said it was rethinking its remaining UK operations, while looking at ways to source funds for its French units as it posted a first-half loss.

For the six months to June 30, Interactive Prospect reported a pretax loss of 9.1 million pounds, compared with a profit of 527,000 pounds a year ago, as its UK operations significantly underperformed, prompting its auditors to cast doubt on its ability to continue as a going concern.

Interactive Prospect on Monday sold its core UK customer acquisition and list rental business for 1.3 million pounds ($2.35 million) to investment firm Volvere Plc (VLE.L) to provide working capital.

It said on Tuesday it is also considering the sale of one of its three French units as one of the options for an early repayment of the newly amended 6.5 million euro ($9.33 million) loan from Barclays Bank (BARC.L). (Reporting by Man Ranjith Ullattil in Bangalore; Editing by Victoria Bryan)



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