Press Releases & Company News
Red reports continued growth
20/03/2009
The online classified advertising company Red Advertising reports continued growth despite the current economic downturn.
Initially the company had downgraded growth forecasts for its current financial year and was working on the principle of increasing market share during this downturn in order to show extended profitability when market conditions improve but early indications are that for the first quarter of its current financial year it has again exceeded expectations by delivering an impressive 18% first quarter growth.
In its Financial year ending 30thNovember 2008 the company demonstrated an 85% increase in ad sales revenue on the previous year. In addition to this, the company’s recent abc traffic audit for January 2009 showed continued growth on the candidate reach side.
Red demonstrated a candidate traffic growth of 22% with unique visitor numbers climbing from 447,914 confirmed during the Jan 08 abc audit, to 544,888 confirmed during the recent Jan 09 abc audit. Current marketing in place for 2009 is expected to take these levels significantly higher.
Commenting on the figures reported, Richard Clarke the Director said “Obviously one swallow doesn’t make a summer, but to have continued growth during a market downturn is particularly encouraging. We have some fantastic online classified advertising products available here and they are well received by clients. 2009 is a challenging year for most online publishers but we will continue to work hard at it delivering what clients want and if all goes to plan we should be able to convert some of our existing business into significantly higher profit areas as we move into 2010 and beyond.”
Further information regarding Red Advertising and its current product offerings are available via its website or you can request a media pack on 0845 60 00 550.
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