IPT confirms sale talks still on

28/09/2007

Despite the silence over the past few weeks, Interactive Prospect Targeting (IPT), the online marketing group, remains in takeover talks. This was confirmed with interim results that showed the expected sharp fall in half-year profit following the difficulties IPT encountered early in the year executing sales. These issues appear to have been overcome. I have repeatedly stressed that, despite its recent problems, a take-out price for IPT was likely to be closer to my original 179p recommendation price (in January this year) than the 150p at which the shares have recently been trading. They jumped to 163.5p on Thursday in the wake of the interim statement. Continue to hold.


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