Bebo UK’s profits fall 143% from 2008-09
Bebo’s UK business posted a post-tax fall in profits of 143% in the 12 months to May 2009, according to figures filed at Companies House.
According to The Guardian, the figures were signed off on 1 April this year, just one week before parent company AOL announced it was looking to sell or close Bebo, of which the final outcome is due at the end of May (nma.co.uk 7 April 2010).
The figures show Bebo posted a post-tax profit of £2.6m in 2008 and a year later a £1.1m loss. Turnover from the social network fell 29% year on year to £6.2m and operating profits were down 32% to £541,268.
AOL acquired Bebo for £417m in May 2008 as it sought to integrate the social network into AOL People Networks (nma.co.uk 19 May 2008).
This story first appeared on newmediaage.co.uk
