The long time lag between growth in newsletter subscriptions and revenue recognition has held back profits growth at Electric Word (tipped here just over four years ago at 6.38p). But in the first half to the end of May, Electric lifted profits by 140 per cent to £750,000 on a big rise in margins. Earnings emerge at 0.46p. With more to come in the second half from a full contribution from the acquisition of Incentive Plus, it looks as if Electric is selling on a single-digit earnings multiple at the current 9p. If you are still in, stay in.

Electric Word	AIM	£4.33m	3.00p	0.00p
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Other company articles:
Electric Word			02/06/2008
Nightmare on media street once again			03/03/2008
Electric profits up 140 per cent			23/08/2007
Electric starts to bank the profits			09/03/2007
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