Pigsback.com sees profits

Irish company Pigsback.com, owned by Empathy Marketing Ltd (EML) is to meet its growth and profit targets for its financial year ended June 30, 2003.

It hopes to have turnover for the year of € 1.55m, up 45% on the previous year. The company said that turnover for the first eight months of the year was € 1.44m, up 54%.

The company recorded its first profitable month in March 2002 and is on track to be consistently profitable from the beginning of this year.

Pigsback.com offers to services to marketers, ranging from loyalty solutions to lead-generation and customer acquisition. It now has over 150,000 members.

In October 2001 the company received funding of € 2.5m from Xtra-vision, a consortium of UK private investors, Enterprise Ireland and some private investors, including the EML management team.