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toptable Profits up 187%

LONDON, November 19 /PRNewswire/ -- toptable, Europe's No 1 online dining community and online restaurant reservation service, reported a 187% increase in pre-tax profit, demonstrating its value to both restaurants and diners even in the face of the recessionary environment facing the leisure sector.

For the year to June 2009, the company (including its toptable.com and city-eating.com brands) generated record earnings before tax, of GBP1,268k, up from GBP442k in 2008, on total sales up 20% year on year and seated diners generating an estimated GBP120M of Total Transaction Value to the restaurant industry.

toptable CEO Karen Hanton attributes the company's extremely strong results to its unique value proposition, increased brand recognition and customer loyalty, strong growth in its user base, enhanced on-site content and user experience, and the introduction of a new technology platform which is enabling further scalability both domestically and internationally.

"In light of incredibly tough market conditions, we are delighted to have been able to continue with our ambitious expansion plans delivering profitable growth," said CEO Karen Hanton.

The company's reported profit is net of a significant investment in its international expansion. A French language version of toptable was launched in September 2009 and will be followed shortly by German, Spanish and Italian sites to complement the English language site. The company's 'core' profitability - driven by its UK market presence - exceeded its reported results by the amount invested in the international build-out.

The financial results, audited by KPMG, show that the group continues to deliver robust top line growth and solid profits despite challenging market conditions.

The group's performance has been rewarded with much public recognition. Most recently, toptable was named in the prestigious Sunday Times Microsoft Tech Track 100, the National Business Awards and, for the fifth consecutive year, the Media Momentum Awards, recognising the fastest-growing technology companies in the UK. Karen Hanton was also recognised in the Telegraph's 50 most influential Britons in technology published in September 2009.

Notes to Editors:

The toptable group which incorporates city-eating, a network of 61 global food websites, features 20,000 restaurants in 14 countries and receives 3 million monthly visitors (Omniture). Shareholders include legendary football manager Sir Alex Ferguson and celebrity chef Gary Rhodes.

http://www.toptable.com

For further information on the Sunday Times Microsoft Tech Track 100 league table: <http://www.fasttrack.co.uk/fasttrack2002/press/Tech09-Nat.pdf>

SOURCE toptable

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