118 118 runs up £58.6m profits

THE NUMBER UK, owner of the 118 118 directory assistance line, dialled up a £58.6m pre-tax profit last year, up 27 per cent, on sales 6 per cent higher at £116.6m.

This increase comes about despite a decline in call volumes. The business – owned by US information services giant KGB (Knowledge Generation Bureau) - blamed “macro economic pressures” for falling call volumes, which it offset by cutting costs and pushing up prices.

Since the UK directory enquiries market deregulated in 2003, 118 118 – famously marketed by two mustachioed joggers – has run off with an estimated 60% of the UK market.

The business pulled plans for a stock market flotation in March.

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