Firm behind Pigsback optimistic over growth

A MAJOR transformation programme at the company that runs Pigsback.com will result in growth at the firm going forward.

Empathy Marketing Limited also said that the launch of its Mega Deals offering in September 2010 was “very well greeted by the market” and has continued to show very strong growth in 2011.

Pre-tax losses increased from €322,155 in 2009 to €374,995 last year, according to accounts just filed by the company.

It said that last year significant new funds were added to improve the balance sheet and the British business was downsized to “eliminate the potential for any significant losses beyond 2010”.

“The company’s transformation programme was completed in 2010 and the directors are seeing the results of the restructuring coming through strongly in 2011,” the accounts read. The directors said they are “very optimistic” about the 2011 performance of the business and the outlook for future years and are “confidently” expecting a return to revenue growth as well as double-digit EBITDA profits for 2011.

Pigsback.com is an online consumer and brand interaction firm, which is based at Citywest in Dublin.

It launched in Ireland in 2000 and in Britain in 2005.

Turnover in the year was down from €3.2 million to €2.6m. The accounts point out that the group experienced drops in demand for advertising services.

The company’s auditors point out an “emphasis of matter” in their report and said the losses and liabilities indicate the existence of a “material uncertainty” which may cast doubt on the company’s ability to continue as a going concern.