Business
Half-yearly Report
Half-yearly Report.
About this update from Optibiotix Health Plc
[{"type":"text","content":"\n \n CERES MEDIA INTERNATIONAL PLC \n\n (\"Ceres\" or the \"Company\" or the \"Group\") \n\n Half Yearly Report \n\nChairman's Statement\n\nCeres is a supplier of environmentally friendly and sustainable materials for\nthe `Out of Home' and `In-store' print industry and has made progress in\ndeveloping and refining suitable materials for these markets.\n\nThe Board presents the results for the Company for 6 months to 31 January 2013.\n\nThe Company has continued to experience difficult trading conditions since\nadmission of its shares to AIM in September 2011. The general lack of\nconfidence in the marketplace has manifested itself for Ceres business in the\nslower than anticipated adoption of its new printing materials by both the Out\nof Home Advertising and In store point of sales (\"POS\") markets.\n\nWhile year on year sales growth is clearly apparent (+168%), revenues remain\nsignificantly behind budget for the first half period for the reasons outlined\nabove.\n\nOperating losses versus the same period last year are significantly reduced\nfrom (£453k) to (£89k) primarily as a result of a sizeable overhead reduction\nprogramme. Further improvements in sales revenue during the second half are\nexpected.\n\nShortfalls in sales revenue against projections led to the inevitable cash\nshortages earlier this year and the business was pleased to receive the backing\nof a number of key shareholders in raising a further £275,000 to permit the\nfunding of product development initiatives and ensuring their readiness for\nmarket.\n\nAs notified in recent announcements the Company has finally received approval\nfor use of the TierrafilmTM Backlit product with the major `Out of Home' owners\nin the UK providing the Company with access to potential advertisers in this\nlarge market place. The Company is now working with a number of high profile\nbrand owners and media buyers to launch TierraFilm in the UK during 2013. This\nstrategy is also being applied in North America with TierrafilmTM Backlit\nmaterials having recently been approved for use by the first major US Shopping\nMall media owner.\n\nAfter experiencing numerous adhesion difficulties with the original\nTierrafilmTM Window-cling a new improved variant with a light tack adhesive, as\nrequested by end users, has been developed and market tests have now been\nsuccessfully com...