House broker Arbuthnot has cut its full year loss forecast for cash machine advertising software developer i-design from £240,000 to £140,000.
The company says that strong trading momentum is being maintained in the year to September 2011. Arbuthnot expects revenues to be £3.2m - £200,000 higher than the previous forecast.
The shares rose 7.5p to 52p, valuing i-design at £7.33m. The share price has nearly doubled over the past month.
Investment company Brookwell Ltd had already taken advantage of previous share price strength to cut its stake in i-design to below 3%.
A trading update is due to be published in early October.
Download the June 2011 edition of AIM Journal at http://www.hubinvest.com/AIMPDFJuly2011_22.pdf
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