Reuters: Small Business News: Online dating company Cupid gets approaches for casual dating websites

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Online dating company Cupid gets approaches for casual dating websites Jun 21st 2013, 07:16 Fri Jun 21, 2013 3:16am EDT (Reuters) - Internet dating site Cupid Plc said it has been approached by multiple parties for its casual dating websites and added that it expects core earnings for the first half to be hit by higher marketing costs. Cupid, which disclosed last month that it was in talks to sell its casual dating business that operates the benaughty.com and flirt.com websites, said on Friday it was exploring the approaches it has received for the business. The company said earnings before interest, tax, depreciation and amortization, for the six months ending June 30 is estimated to be about 2.5 million pounds ($3.9 million). Cupid reported adjusted EBITDA of 5.9 million pounds last year. Cupid, which faced media allegations earlier this year about the methods it used to encourage people to buy subscriptions, said an independent review of its member database and operating practices was due to be completed by the end of June. The company said it has also undertaken a separate review by a legal team and implemented several recommendations, including clearer guidelines for customer service staff interactions. Shares in the company closed at 69 pence on Thursday on the London Stock Exchange. They have lost roughly two-thirds of their value so far this year. (Reporting by Tasim Zahid in Bangalore; Editing by Supriya Kurane) Link this Share this Digg this Email Reprints

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