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International Marketing profit rises, meets estimates

International Marketing & Sales Group Plc, said full-year profit rose by half, meeting analysts' estimates, after the marketing company completed acquisitions in Turkey, India and Hungary.

Net income met or exceeded estimates of $5.75 million (€4.42 million) for the year ended December 31, compared with $3.77 million a year earlier, the Dublin-based company said today in a statement distributed by the Regulatory News Service. Sales more than doubled to an estimated $96 million. The company is „pleased to report a satisfactory outcome,” as 2006 was a „challenging” year, International Marketing Chairman Greg Thain said in the statement. The shares rose 1 penny to 151.5 pence at 10:29 a.m. in London, boosting the company's market value to £52.8 million (€78.92 million). The stock has fallen 40% in the past 12 months as International Marketing's Russian sales slumped and the Turkish lira weakened against the dollar, cutting into revenue. International Marketing will report 2006 earnings in April. (Bloomberg)