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Pixel Interactive Media

  • BY: Andrew Hore |
  • POSTED: 12/09/2008 |

Shares in Pixel Interactive Media recovered some of their recent decline following share buying by a director.

Teh Kim Seng bought a total of 60,000 shares at 19p and 20p each following the release of the interim figures of the online advertising business. This takes his stake in Pixel to 8.65%.

Even after the rally to 26p, the Pixel share price has fallen by one-third in the past six months.

Pixel reported revenues 86% ahead at $9.14m in the six months to June 2008. Pre-tax profit improved 92% to $1.17m. Hong Kong still accounts for the majority of revenues but China and Singapore are growing in importance.

Pixel is dipping its toe into newer markets such as South Korea, Taiwan, Indonesia, Vietnam and the Philippines. Management expects to open two new offices this year. 

Net cash was £5.47m at the end of June. Cash generation has been poor but management says that it would rather charge full price than offer discounts for earlier payment.

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