RE: Dragonfly29 Mar 2012 08:09
[MTV] [DRG]
31 12 2011 Financial highlights
· Revenue from continuing operations increased by 51% to £2,024,886 (FY 2010: £1,337,308)
· Gross profit from continuing operations increased by 139% to £753,976 (FY 2010: £314,851)
· Loss attributable to continuing activities remained flat at £2,544,419 (FY 2010: £2,483,133)
· Shareholder funds increased to £3,520,333 (2010: £2,723,822) including cash balances of £558,100 (FY 2010: £1,338,628)
· Loss per share from continuing activities decreased to 0.15p (FY 2010: 0.39p loss)
Operational highlights
· Launch of Television Anytime Anywhere™ platform which integrates the Company's two core solution offerings and software brands
· Established United States subsidiary to address growing business in the Americas region
· Letter of Intent signed with CME Media Services Limited, a wholly-owned subsidiary of Central European Media Enterprises Limited (for the Television Anytime Anywhere™ solution)
· Announced joint-venture with Granite Broadcasting Corporation in the USA for Television Anytime Anywhere™ solution, with agreement for subsequent pilot programme
· Expansion into Latin America through agreement with Media Networks Latin America S.A.C. for Television Anytime pilot project
· Enabledthe broadcasting of 3D television to set-top boxes via DTT
· Launch of Video2Go product, enabling the seamless loading of recorded movies and other pre-recorded material to laptops, iPads and other tablet and mobile devices
· Completed Motive's Phase 1 responsibilities in its Digiturk project and in its final system acceptance testing prior to launch
· Added over 100,000 Television Anytime-enabled television households to the Mediaset Premium On Demand platform
Commenting on the results, Michael Pilsworth, Executive Chairman, said:
"Motive has made excellent progress in 2011, having successfully launched Television Anytime Anywhere™ and signed new agreements in the United States, South America and Europe. The Company remains focused on the execution of its business plan and is in discussions with a number of broadcasters, cable, and satellite operators in both Europe and the Americas. The Board is confident that Motive's distinctive proposition will gain further traction in its key markets in the future."