Current Trading and outlook26 Jun 2025 07:11
Our current pipeline is possibly the strongest we have ever seen in Europe with our first six figure deal in the region contracted and beginning production to start airing over Summer (as currently scheduled), and multiple other similar sized deals being targeted and in discussion. In Germany we already have a follow-up booking contracted with the major retailer Lidl for the Christmas season and are at varying stages of negotiation with many of Germany's largest media spenders, including returning clients, for deals across Q3 and Q4. We remain in substantive discussions in relation to the proposed services agreement with a leading Middle East-based.
Cash at bank at the end of May was approximately £2.1m, prior to the receipt of c. £1.4m net proceeds from the placing and retail offer, £0.2m from our US Joint Venture partner and approximately £0.9m of costs relating to the restructuring exercise undertaken at that time.
"with the US joint venture and associated restructuring now complete, I believe we are now well-placed to benefit from the new organisational structure in the U.S whilst being able to focus on driving growth from the European market"