TIDMIME
RNS Number : 6649Y
Immedia Group PLC
08 September 2009
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8 September 2009
IMMEDIA GROUP PLC
INTERIM RESULTS
Immedia Group Plc, the UK's leading provider of live, bespoke Radio Stations and
Digital Signage for retail, today announces its interim results for the half
year to 30 June 2009.
Operational Highlights
* Reduced first half operating loss of GBP40,615 (2008 H1 operating loss
GBP115,423)
* Growth in revenues and margins whilst overhead costs reduced
* Cash in bank GBP706,596 as at 30 June 2009 (GBP645,143 as at 30 June 2008)
* New 3 year contract with major UK high street bank announced 1 April 2009
* Deepening relationships with all clients
* Continuing high level of interest from new business prospects
Financial Highlights
+--------------+------------+-------------+
| | Unaudited | Unaudited |
| | Half year | Half year |
| | to | to |
| | 30 June | 30 June |
| | 2009 | 2008 |
+--------------+------------+-------------+
| | | |
+--------------+------------+-------------+
| Revenue | GBP | GBP |
| | 1,749,175 | 1,608,872 |
+--------------+------------+-------------+
| | | |
+--------------+------------+-------------+
| Results | GBP | GBP |
| from | (40,615) | (115,423) |
| operating | | |
| activities | | |
+--------------+------------+-------------+
| | | |
+--------------+------------+-------------+
| Loss | GBP | GBP |
| before | (39,705) | (101,535) |
| income | | |
| tax | | |
+--------------+------------+-------------+
| | | |
+--------------+------------+-------------+
| Loss | GBP | GBP |
| for | (38,655) | (101,535) |
| period | | |
| attributable | | |
| to equity | | |
| shareholders | | |
+--------------+------------+-------------+
| | | |
+--------------+------------+-------------+
| Basic | (0.28)p | (0.71)p |
| and | | |
| diluted | | |
| loss | | |
| per | | |
| share | | |
| (pence) | | |
+--------------+------------+-------------+
| | | |
+--------------+------------+-------------+
| Cash | GBP | GBP645,143 |
| and | 706,596 | |
| cash | | |
| equivalents | | |
+--------------+------------+-------------+
Bruno Brookes, Chief Executive of Immedia, said:
"Immedia continues its progress in 2009, emphasising the strength of its
relationships with leading UK brands."
+-----------+--------------+
| Immedia | |
| Group Plc | |
+-----------+--------------+
| Bruno | +44 |
| Brookes | (0) |
| - Chief | 1635 556 200 |
| Executive | |
+-----------+--------------+
| Hudson | |
| Sandler | |
+-----------+--------------+
| Nick | +44 |
| Lyon | (0) 20 |
| | 7796 4133 |
+-----------+--------------+
| | |
+-----------+--------------+
| Daniel | |
| Stewart | |
| & | |
| Company | |
| Plc | |
+-----------+--------------+
| Simon | +44(0) |
| Leathers | 20 7776 6550 |
| / Simon | |
| Starr | |
+-----------+--------------+
Chief Executive's Review
I am pleased to present our results for the six months ended 30 June 2009 and to
report Immedia's continuing progress during the half-year.
Results
Immedia's progress in 2009 emphasises the strength of its relationships with
leading UK brands. Revenue for the period was GBP1,749,175 (up 8.7% on 2008:
GBP1,608,872) with the operating loss reduced from GBP115,423 to GBP40,615.
Our focus on cost control and profitability continues: overhead costs were
reduced during the first half of 2009 and the benefits will be seen in the
second half of 2009 and in 2010. The Group closed the period with GBP706,596
cash in the bank (30 June 2008: GBP645,143).
Subscription Stations
Our subscription radio stations continue to perform well, with ongoing
opportunities to help our clients with new product development.
In April we announced we had won a three year contract with a leading UK high
street bank. This contract followed a successful trial period and memorandum of
understanding announced in July 2008. Under this contract, Immedia provides the
bank's retail branches with a RadioVision network. The award winning
'RadioVision' is Immedia's latest revolutionary product which innovatively
combines in-store radio with synchronised bespoke video content. Through this
unique and impressive technology, radio works in unison with plasma and LCD
screens to engage consumers and staff. The specially consolidated video content
can be instantly triggered by presenters when explaining products and services.
Immedia provides the radio service together with bespoke audio and visual
content, all hardware, network delivery and maintenance support for the store
network.
Elsewhere, we continue to work closely with HSBC; the HSBC Live! subscription
radio station is now broadcast to over 1,000 branches across the UK and to other
HSBC buildings. We look forward to developing our relationship with HSBC
further.
Our strong relationship with SPAR has seen SPAR LIVE radio deployed to 35
additional stores in the first half of 2009 and is now broadcast to circa 1,330
stores across the UK.
GAME Live! Is broadcast to approximately 380 GAME stores across the UK, and we
have added maintenance to the services we provide in 2009.
Lloyds Pharmacy Live! operates across all 1,475 stores and, with our renewed
contract, we continue to explore further opportunities to assist with new
product development.
On 4 September we signed a two year contract extension to provide 'IKEA LIVE' to
all 21 IKEA stores across the UK. A further contract has also been signed for
the provision of a regionalised version of 'IKEA LIVE' for the Republic of
Ireland starting with the Dublin store, complete with Irish tailored content.
These contracts follow the original three year contract signed in September 2006
and now also include sound installation, consultancy and a maintenance
programme, together with an additional podcast service.
Installation and maintenance services
During the first half of 2009 we completed audio and visual installations for
the TopShop and TopMan brands at various key locations in the UK and Eire and
have other installation projects currently in progress for completion before
Christmas.
We now provide maintenance services for the majority of our customers under
contract.
.
Outlook
Immedia has continued its progress in close collaboration with leading brands
throughout the first half of 2009. In particular, our RadioVision
service attracts great interest in a competitive market as companies seek new
ways to win customers.
Bruno Brookes
Chief Executive
07 September 2009
Condensed consolidated statement of comprehensive income
+-------------------------------+------+-------------+--+-------------+--+-------------+
| |Note | Unaudited | | Unaudited | | Year |
| | | Half year | | | | Ended |
| | | to | | Half Year | | 31 Dec |
| | | 30 June | | to | | 08 |
| | | 09 | | 30 June | | GBP |
| | | GBP | | 08 | | |
| | | | | GBP | | |
+-------------------------------+------+-------------+--+-------------+--+-------------+
| | | | | | | |
+-------------------------------+------+-------------+--+-------------+--+-------------+
| Revenue | | 1,749,175 | | 1,608,872 | | 3,875,010 |
+-------------------------------+------+-------------+--+-------------+--+-------------+
| | | | | | | |
+-------------------------------+------+-------------+--+-------------+--+-------------+
| Cost of sales | | (759,076) | | (667,262) | | (1,608,926) |
+-------------------------------+------+-------------+--+-------------+--+-------------+
| | | | | | | |
+-------------------------------+------+-------------+--+-------------+--+-------------+
| Gross profit | | 990,099 | | 941,610 | | 2,266,084 |
+-------------------------------+------+-------------+--+-------------+--+-------------+
| | | | | | | |
+-------------------------------+------+-------------+--+-------------+--+-------------+
| Administrative expenses | | (1,030,714) | | (1,057,033) | | (2,208,968) | |