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Motive Television - Preliminary Results
30-06-2010
Motive Television Plc, the digital television services and solutions group, announces its preliminary results for the year ended 31 December 2009.
Highlights
- Following a strategic review in January 2009, the company exited the majority of its television production businesses and has moved into the supply of solutions for digital broadcasters.
- Entered into global distribution agreement for BesTV® technology.
- Group turnover fell by 19 per cent to £3,307,048 (2008: £4,074,480) compared with a 30 per cent fall across the industry.
- Gross profit fell by 34 per cent. to £511,958 (2008: £777,137).
- Loss for the year narrowed to £1,008,249, an improvement of 38 per cent. compared to the loss of £1,622,507 achieved in 2008.
- Cash at bank and in hand at the year end was £220,123 (2008: £731,040 net of overdrafts).
Commenting on the results Motive’s Chairman, Mick Pilsworth, said:
“Following the strategy review conducted in January 2009, and our decision to reduce the Group’s exposure to the television production business, we are now focusingour resources on the development of the digital technology business that we established midway through the year.
“Over the next 12 months we will be working to ensure the success of the BesTV® brand whilst seeking further opportunities to invest in new technologies that we believe will generate shareholder value as the broadcasting industry continues to come to terms with the new challenges it faces.
“It has been an extremely difficult period for the broadcast industry but with our new strategy and Board now in place we believe that Motive is well placed to take advantage of the opportunities that these challenging times offer.”
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Enquiries
Bishopsgate Communications
Gemma O'Hara/SIobhra Murphy
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