News blog
i-design
- BY: Andrew Hore |
- POSTED: 25/06/2009 |
Failure to secure new atmAd licences will hit the full year performance of i-design
A more than doubled loss of £1.2m is forecast for the year to September 2009. The cash machine advertising technology developer has four atmAd licensees and it had hoped to add another two new bank clients.
Revenues still increased 46% to £1.38m in the six months to March 2009, while the loss increased from £347,000 to £382,000. Advertising sales income grew by 72%. Net cash is £1.88m.
Net cash is forecast to fall to £1.13m by the end of September 2009.
Licence sales are unlikely to be made until the banks sort themselves out and start to feel more confident.
At 13.5p a share, i-design is valued at £1.9m – equal to the March 2009 cash balance.
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