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Phorm losses

October 1, 2008

Aim-listed Phorm, the internet advertising group that announced a tie up with BT this week, made an pre-tax loss of £13.7m (E17.2m) for the first half of 2008, an increase of 52 per cent from the loss of £9.1m in the same period in 2007. However, in spite of the losses, Phorm still has a positive cash balance due to fundraising of £24.9m. The company announced this week that BT will start a trial of the Webwise software, which tracks browsing habits of internet users in order to refine the adverts shown. The system has raised concerns with regulators over privacy, data protection and whether the system should be opt-in rather than opt-out.

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