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Pilat Media Global

  • BY: Andrew Hore |
  • POSTED: 30/08/2012 |

Broadcast management software provider Pilat Media Global remained in profit in the second quarter of 2012 and demand is strong from existing customers.

The second quarter operating profit was £370,000. Historically Pilat makes more of its profit in the second half. 

In the six months to June 2012, revenues slipped from £10.8m to £10.5m. Operating profit fell from £1.05m to £585,000, while pre-exceptional profit dipped from £1.05m to £701,000.

Investment in the new Over The Top Television (OTT) joint venture OTTilus Ltd has reduced the cash in the bank. Pilat owns 60% of OTTilus and the £250,000 is represented as an increase in creditors. A further £250,000 will be invested once the software is completed by the partner and £500,000 will be available as a loan facility. Net cash was still £6.32m at the end of June 2012. 

Three existing clients have licensed the newly launched rights management module of the software, while most clients have converted to the latest version of the main software. Once these conversions are completed there will be more capacity to satisfy new orders.

A27.75p a share, Pilat is valued at £17.3m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2012_35.pdf

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