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NetBenefit breaks into the black

Plans for full listing are under way

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A sharp increase in demand for domain names and related services has catapulted NetBenefit into the black, a sure sign of the UK's growing appetite for the Internet. Sales at NetBenefit were up 73 per cent to £1.97 million during the year to 30 June turning a loss of £3852 in 1998 into an operating profit of £254,357. Since year-end, the company reported that sales have increased by 80 per cent year on year. NetBenefit MD Jonathan Robinson said: "This has been a tremendous year for NetBenefit [where] we've seen massive growth in sales and profits." NetBenefit floated on the Alternative Investment Market (AIM) in June when it raised £4.48 million to fund growth. The company said plans to transfer NetBenefit onto the Full List were at an "advanced" stage. The company recently bought French domain service Voxpop and also has an office in the US. ® For the latest "ker ching" on the Web tune into Cash Register and turn on to our daily Net Finance News

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