February 16, 2011
By Staff Reporter
The site forecast a six-figure profit from sales of euro 2.6 million for its financial year to the end of next June, according to chief executive Michael Dwyer.
Pigsback.com was launched in July 2000. It recorded sales of euro 847,000 during its first year of trading and euro 1.66 million for the financial year to last June.
Dwyer said the company planned to raise euro 3 million by the middle of next year to expand its operation to parts of London and the Manchester and Liverpool areas.
“It is a very, very tough market, but we have a good history of raising money,” Dwyer said.
Pigsback has raised euro 5 million over the last two years. Its shareholders include Xtra-Vision and Enterprise Ireland. Dwyer and his management team own 40 percent of the company.
Pigsback.com is operated by the Dublin firm Empathy Marketing, which employs 23 people. The website has 172,000 Irish members who have signed up to receive special offers from a number of shops, hotels and businesses.