The company is profitable and although the market in general is down, there are some good points for buying or holding the shares at this prices.

On the last update on 17 Feb.03 The group still anticipates delivering double-digit operating margins in the second half, and is generating strong operating cash flow.
The Marketing Services division continues to trade strongly and in line with expectations.
Citigate Global Intelligence & Security has grown revenues rapidly and ahead of original expectations and is anticipated to be profitable on a monthly basis by the beginning of the new financial year. The division has performed consistently well since acquisition. The deferred consideration, originally to be paid wholly in shares, will now be made largely in cash.

Directors were buying stock 680K last October at 13.5p /15p and each of the directors has been offered the opportunity of purchasing partnership shares under the Plan on a monthly basis on the basis of one to five basis of shares they owned, and some of them have been buying @ 13.50p last month and 10.75p last week.

At 10.75p the shares a ripe for a new trend up ahead of May finals.

Incepta fails to put a spin on its results
Polly Fergusson

Finance and media do not mix right now, and any company involved in both is facing a tough time. PR giant Incepta has been unable to spin much out of its final results, with pre tax profits down 35% due to appalling conditions, lower operating profits and higher interest charges.

The company has sacked 10% of staff, sold property, written down goodwill by 35.9m and restructured to save money. This should save Incepta 9m. The PR and specialist advertising division did not perform well, but the marketing services division showed better growth

Incepta has worked hard at reducing its earn out commitments - substantial outstanding payments for recently acquired companies. It has reduced its earn out commitments by a third compared to last year. At the end of February 67.8m of earn out commitments were provided for in the balance sheet. Just under 37m will be settled in cash and loan notes and 30.9m by a share issue.