News blog
International Brand Licensing
- BY: Andrew Hore |
- POSTED: 17/08/2009 |
International Brand Licensing is strengthening its balance sheet through the sale of rights to the Admiral sports brand in Australia and New Zealand for A$235,000 (£117,000).
The buyer is Soccer Shirts International (Pty) Ltd. IBL has already sold the rights to the Admiral brand in Japan, South Africa and Turkey for more than £1.8m. IBL wrote £2.1m off the carrying value of the Admiral brand at the end of 2008.
IBL is looking for more licensees for its Admiral and Muscle Athletic.
Loss-making IBL had net cash of £2.5m at the end of 2008. Costs will be reduced this year, which will reduce the cash outflow from operations.
At 10p a share, IBL is valued at £3.36m. Net asset value was £5.07m at the end of 2008 - including £2.62m of intangible assets.
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