News blog
Coolabi
- BY: Andrew Hore |
- POSTED: 29/03/2009 |
Coolabi still expects to move into profit in the year to June 2009.
The intellectual property developer was forecast to make a profit after it reported its figures for the year to June 2008 and it is still on track. This is still true even though the pre-amortisation loss increased slightly from £270,000 to £278,000 in the six months to December 2008. Revenues declined from £878,000 to £529,000. There were no series delivered in the six month period.
Coolabi says that it will achieve a positive EBITDA in the year to June 2009. To do that it will have to make a sizeable profit in the second half.
Purple Ronnie is the main character asset of the group. Greetings cards sales increased and an agent is being appointed in the US.
New bank facilities of £2m have been agreed with Coutts. Net debt was £610,000 at the end of December 2008. Coolabi has acquired three literary estates for an initial £85,000 since then.
At 7.5p a share, Coolabi is valued at £2.54m.
Coolabi continues to look for more acquisitions.
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