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i-design

  • BY: Andrew Hore |
  • POSTED: 10/10/2011 |

i-design will report its first ever profit in the year to September 2011.

The cash machine advertising software developer had been expected to make a loss. Sales will be £3.5m, helped by new contracts with Barclays and YourCash.

A profit of £32,000 is forecast instead of a loss of £144,000. Net cash of £900,000 is slightly better than expected. A repeat of this profit in 2011-12 is dependent on further licence sales.

House broker Arbuthnot has updated its target price for the second time in less than a month. It is looking for a price of 90p a share, up from 80p a share. At 64.5p a share, up 3.5p, i-design is valued at £9.1m.

The full year figures will be announced in early December.

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