News blog
i-design
- BY: Andrew Hore |
- POSTED: 22/05/2009 |
Two contracts are taking longer than expected for i-design to negotiate so it will make a substantial loss this year.
Negotiations had been proceeding well but the turbulent conditions in the banking sector have led to slippage in negotiations. That means that the contracts will not be secured in this financial year.
The cash machine advertising technology developer believes that it will lose in the region of £1.2m in the year to September 2009.
The shares fell 2.5p to 14p each, which values i-design at £1.97m.
House broker Arbuthnot had been predicting break even for the current financial year but revised its forecast to a loss of £300,000 after last year’s results were reported.
There was net cash of £1.7m at the end of April 2009 so the balance sheet remains strong.
The interim figures will be reported on 25 June 2009.
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