31 Oct 2011 07:00
31st October 2011
UBC Media Group plc
("UBC" or "the Company")
Trading Update, Patent grants and Contract Win
UBC announces trading update including grants of Patents resulting from 'Cliq' inventions and extension of work on UK Radioplayer
UBC Media Group plc (UBC.L), the UK's specialist content services company, has today issued the following Trading Update ahead of its Interim Results for the half year to 30 September 2011, expected to be announced on 14th November 2011.
The Company expects turnover at the half year to be £2m, with year-on-year increases in revenues from interactive and digital video content. Operational losses are expected to show improvement on last year due to increased margins in video and reduced overhead costs. The Company's cash balance at 30 September was £3.8m; UBC has no debt.
The Board is satisfied with current trading and will update the market further with its Interim Results.
The Company is pleased to announce that, after a successful development and launch phase which began in the last financial year, its Interactive division, Unique Interactive ("Unique"), has again been commissioned by UK Radioplayer - the internet streaming platform created by the entire UK radio industry. Unique will help develop a range of new services, while continuing to provide technical support for the platform for another twelve months.
This work will include delivering a meta-data storage and processing engine that will allow content discovery and recommendation on IP connected platforms such as connected TVs, mobile apps, hybrid radios and web sites. In addition, Unique will adapt the latest open-source search technology, to help power the Search feature found on the Radioplayer web site and in station's Radioplayer pop-up consoles.
UBC is further pleased to announce the grant of certain patents in the UK and Australia. These patents relate to the technology developed during UBC's investment in its Cliq music downloading service. Whilst the consumer service was discontinued in 2008, UBC made provision at the time to continue prosecution of its patents as the Company believes that the inventions behind Cliq could carry commercial value in the future.
These patents, which are pending in 6 further territories, have now begun to be granted. They cover the use of data streams within radio, television and other digital broadcast systems to provide devices with the information necessary to purchase content. The Company is currently exploring ways of realising shareholder value from these patents.
Simon Cole, Chief Executive of UBC commented:
"We continue to make progress in reducing costs, improving losses, building turnover and winning new business in the areas that we have identified as strategically important. We still have the balance sheet firepower for acquisitions to boost our earnings but in the current climate are being cautious about valuations in order to protect our very solid position at a time of uncertainty."
ENDS
Enquiries:
Simon Cole, CEO, UBC Media Group plc. Tel: 020 7453 1600
Sarah Jacobs, Seymour Pierce. Tel: 020 7001 8008
Notes to Editors
About UBC Media Group
UBC is quoted on the London Stock Exchange's AIM market. UBC is a leading provider of digital content, software and mobile applications. The Group is the largest independent producer of radio programming for the BBC and a provider of entertainment programming to commercial radio stations throughout the UK. Its software division, Unique Interactive, is a global supplier of digital radio text and data services.
www.ubcmedia.com