Landround reports disappointing figures as shares fall

Jul 26 2008 by Alex Turner, Liverpool Daily Post

LANDROUND’S shares took a battering yesterday after it said losses were expected to grow because of disappointing revenue figures.

The Chester-based customer loyalty programmes and marketing promotions business, which is listed on the Alternative Investment Market, saw its shares fall more than 40% after issuing an update on trading for the six months to July 31. It expects the first-half operating loss to exceed the £250,000 loss recorded in the same period last year.

The firm, run by chief executive Colin Gibson, has a short-term tactical promotions brand, Discover, and buy and fly!, a rival to the Airmiles scheme.

Landround’s reward programmes subsidiary, White Label Rewards, has signed two new contracts with Citigroup in the period. It now operates five Travel Pass programmes with the company but revenues have been disappointing.

Yesterday its shares closed at a year-low price of 8p.