Edinburgh online dating firm Cupid loses £2.8m

Cupid has been hit by losses of �2.8 million. Picture: Comp
Cupid has been hit by losses of �2.8 million. Picture: Comp
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EDINBURGH-based online dating company Cupid has reported a half-year pre-tax loss of £2.8m on the back of higher marketing and administrative spending.

The firm blamed increased marketing spend, which increased by 18 per cent to £27.4m, and administrative expenses which rose by nearly 60 per cent to £4m, for the poor figures. Cupid sold part of its business earlier this year and said that sum would be reflected in its next set of results.

The “casual dating” part of the company was acquired by one of the firm’s co-founders in a deal worth £45.1m.

The company said it expected its business to return to profitability in 2014.