The Number UK has posted a 10pc fall in turnover but royalties from its European arms have propped up profits

The directory enquiries service 118 118 has seen its revenues fall 10pc last year to £62m, leaving the firm about half as busy as it was five years ago.

The Number UK, which has operated the phone number since directory enquiries were deregulated in 2003, said profits rose from £70.9m to £77m, helped by royalty fees from European subsidiaries.

Chief executive Nik Hole said there “hasn’t really been a significant change in trading volumes” since an Ofcom rule change this summer prompted 118 118 to raise its fees to £2.75 per call plus £2.99 per minute, plus an access charge for the phone operator.

The Cardiff-based company directly employed 51 people at the end of 2014, down from 64 in the prior year and more than 1,000 a decade ago, when the firm had its own call centre.

The Number UK also booked a £10.3m writedown on its subsidiaries KGB Text UK and KGB (UK) Limited. The firm’s ultimate owner is KGB, a New York-based group that runs enquiry services and deals websites around the world.

Source: The Telegraph

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