Yell Group Plc – results for the three months ended 30 June 2012

Yell Group Plc has announced its results for the three months to 30 June 2012

Financial Highlights

  • Group revenue of £331m decreased by 15%
  • Digital services revenues grew by 40% to £38m
  • Digital directories revenue fell by 16% to £68m
  • Print and other directory revenues fell by 21% to £225m
  • EBITDA of £71m was down £40m
  • Free cash flow of £39m decreased £34m
  • Net debt of £2,181m decreased by £19m from March

Operational Highlights

  • Total digital revenue declined by 2%, and represents 32% of revenue
  • Total digital customers decreased by 0.2% to 925,000
  • Annual digital revenue per advertiser fell by 10% to £478
  • Live customer websites increased by 17% to 408,000
  • Digital directories visitors increased 13% to 44m in June
  • Mobile directories visitors increased 71% to 4.8m in June
  • Print advertisers reduced by 9% to 253,000
  • Print revenue per advertiser decreased by 7% to £780

Mike Pocock, Chief Executive Officer, said, “During the last quarter, we continued to transform the Group, capitalising on our unique position in the SME community. We continued our trials of new digital products, progressed new partnerships, introduced our new corporate brand and enhanced our digital capability through the acquisition of Moonfruit. Whilst we continue to deliver cost savings through our global operating model, the decline in our legacy product revenue continues to negatively affect EBITDA. The Group continued to generate significant amounts of cash and pay down debt. Looking ahead, we remain confident in our four year strategy to transform Yell.”

UK, London

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