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Probability

  • BY: Andrew Hore |
  • POSTED: 24/07/2008 |

Probability moved into profit near to the end of the year to March 2008.

The mobile phone gaming company still reported a loss for the year as a whole of £1.12m, against a £3.83m loss. Management says that this is in line with its own expectations even though it is much more than had been forecast. The management says that the difference is accounted for by the move to IFRS, which affected revenue recognition, and a write down of intangible assets.

There is net cash of £2.5m and the company should start to generate cash this year if the improvement continues.

The shares rose 2p to 46p.

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