Business
Preliminary Results
Preliminary Results.
About this update from Fiinu Plc
[{"type":"text","content":"\n Immedia Broadcasting plc\n18 May 2007\n\n\n\n 18 May 2007\n\n\n IMMEDIA BROADCASTING PLC\n\n ('Immedia' or 'the Company')\n\n Preliminary Results for the year ended 31 December 2006\n\n\nImmedia Broadcasting Plc the UK's leading provider of live tailored radio and\nvideo for retail, announces its preliminary results for the year to 31 December\n2006.\n\n\nFinancial highlights\n 2006 2005\n\nTurnover £4.47m £3.08m\nOperating loss £(250)k £(1,072)k\nOperating profit before depreciation, amortisation, exceptional £643k £73k\nimpairment charge and interest\nLoss after tax £(231)k £(1,051)k\nBasic and diluted loss per share (1.87)p (9.43)p\nNet assets £2.00m £1.68m\n\n\nThe 2006 results include the acquisition of The Cube Group of Companies Limited\nand the one-off contribution to revenue and profit due to the previously\nannounced contract termination with Vitus Apotek.\n\n\nOperational Highlights\n\n\n• Acquisition of Cube completed and re-launch of broader offer in progress\n\n• Management team strengthened, with appointment of new Finance Director, \n Chief Operating Officer and Business & Legal Affairs Director\n\n• Impulse Network transfer from 'free to retail' model to subscription model \n developing well\n\nCommenting on the results and prospects, Bruno Brookes, Chief Executive, said:\n\n'Over the past three years, Immedia has continued to provide a high quality\nbroadcast service to a range of high street brands. The acquisition of Cube last\nyear improved the company's market position by adding premium video content to\nour tailored radio broadcast offering.\n\nDespite the current challenges in the retail and advertising markets, we have\ndelivered a set of results in line with market expectations.' \n\n\n\nFor further information please contact:\n\n Immedia Broadcasting Plc\n Bruno Brookes - Chief Executive +44 (0) 1635 572 800\n www.immediabroadcasting.com\n\n Hudson Sandler\n Nick Lyon / Amy Faulconbridge +44 (0) 20 7796 4133\n\n Daniel Stewart & Company Plc\n Paul Shackleton / Stewart Dick +44(0) 20 7776 6550\n\n www.danielstewart.co.uk\n\n\n\n Chairman's statement\n\n2006 was a challenging year for both the UK retail sector and the advertising\nmarket. Costs have been managed carefully and our focus on a subscription based\nbusiness model has helped to drive sales.\n\nTurnover was up 48.7% t...