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Asia Digital Holdings
- BY: Andrew Hore |
- POSTED: 29/07/2011 |
- COMMENTS: Add yours
Asia-focused online advertising services provider Asia Digital Holdings says that its continuing operations have significantly cut their trading losses but working capital remains tight.
There was £390,000 in the bank at the end of June 2011 and the Indian business accounted for £164,000 of that cash and it is difficult to take that cash out of the country. The business in China is taking time to take off.
The good news is that there is a deferred payment for the former Australian business that is due in November. That should bring in £278,000.
Even so, lack of cash is limiting expansion. Asia Digital is trying to sell its stake in software developer DC Storm but it is unclear if this will raise much cash.
Asia Digital has closed two poorly performing businesses and there has been recovery in other opportunities.
China still represents the best growth prospects and Asia Digital is talking to several international brand owners.
At 0.54p a share, down 0.015p, Asia Digital is valued at £4.11m.
Download the June 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFJuly2011_22.pdf
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