The Channel logo


By | John Oates 12th January 2011 14:38

Friends, GenesReunited cuts losses

Jute, jam, journalism and jeanyology?

Brightsolid – owner of Friendsreunited and several genealogy sites, and provider of IT services – has cut its losses for the year ended 31 March 2010.

Brightsolid online technology division provides tech services and support to the company's publishing division and to outside companies.

Over the year the division focused on private cloud contracts, including winning a contract for 5,000 email inboxes at the University of St Andrews. Another major win in the period was the deal to scan and digitise the British Library's newspaper archive.

Across both divisions gross profit grew by 12 per cent, leaving the company with a £322,000 loss.

Turnover increased by 23 per cent this year to £16,230,875. The company said growth over the year had been partly offset "by an aggressive policy of dataset and related intangible asset amortisation".

Brightsolid's publishing portfolio includes, and – and it completed the purchase of FriendsReunited from ITV in March 2010.

It is owned by Dennis the Menace publisher DC Thomson – Brightsolid repaid a £5m loan to its Dundee-based parent, which also converted another £12.5m loan into shares in Brightsolid. ®

comment icon Read 5 comments on this article alert Send corrections



Tom Whipp

Insurance industry insider tells all
Crypto fingers
Kids on wall. Pic: US Army/Capt Emily Skolozynski


Better to play nicely than try to muscle in on territory
Microsoft:Decoded partner of the year 2015. Pic: Dominic Connor

Dominic Connor

Advertising oddness and what MS really wants you to know


Michael Dell. Pic by Joi Ito
Cool Texas dude is just your average billionaire
The Seeing Eye by Valerie Everett, Flickr, CC2.0
Follow the money – or, at least, our projections
Boats storm girl photo via Nikolina Mrakovic
The puppets from Team America: World Police gather at a bar for drinks.