News blog
Coolabi
- BY: Andrew Hore |
- POSTED: 09/10/2008 |
Coolabi expects to move into profit in this financial year.
Revenues grew from £972,000 to £1.59m, while the underlying loss was reduced from £620,000 to £230,000 in the year to June 2008.
The intellectual property developer acquired the Purple Ronnie character in April 2007 and it contributed the majority of gross profits last year.
A second TV series of The Large Family has been commissioned and will start production this year. Coolabi expects to start production of another series in this financial year.
There is net cash of £460,000 and Coolabi has a £2m facility with Coutts. Some of that facility is available for acquisitions.
A profit of £70,000 is forecast for this year.
At 7.5p a share, Coolabi is worth £1.84m.
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