News blog
Coolabi
- BY: Andrew Hore |
- POSTED: 28/03/2010 |
Coolabi made a small pre-amortisation and exceptionals profit in the 18 months to December 2009.
The intellectual property developer reported a loss of £1.38m but this translates into a small pre-tax profit if amortisation of intangible assets, share based payments and the costs of a failed acquisition are excluded.
The profit in the latest 12 month period was around £300,000, compared to a loss in 2008. Revenues almost doubled from £1.24m to £2.83m. This provides a better view of the progress made.
Bagpuss generated strong licensing revenues from soft toys and Coolabi plans to develop new concepts. The Scarlet & Crimson characters and brand are growing through additional book titles and the launch of cosmetics in Boots and Superdrug. A series based on Poppy Cat is being made and Coolabi hopes to sign a toy licensing partner.
Net debt was £734,000 at the end of 2009.
House broker Evolution forecasts a profit of £500,000 in 2010. That equates to earnings per share of 1p.
At 9.25p a share, Coolabi is valued at £4.47m.
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