Forbidden Technologies gains on revenue forecast

Shares in Forbidden Technologies soared Wednesday after the company was expected to report a 50 per cent increase in 2012 revenues.

Shares in Forbidden Technologies soared Wednesday after the company was expected to report a 50 per cent increase in 2012 revenues.

Forbidden jumped 17% to 24.00p at 10:00 following a trading update which projected annual results would exceed analysts' forecasts, thanks in part to sales of its cloud video platform FORscene.

FORscene is used as a tool for editing live video content. It was employed by YouTube and NBC for editing web video for the 2012 London Olympics.

As a result, Forbidden's overall revenue from the news and sport sector is expected to grow by over 80% during the period.

"FORscene's reputation for reliability, speed and reduced cost have been the major drivers of growth in professional markets, the source of almost all Forbidden's revenue," the company stated.

The product is becoming highly used in the broadcast post production sector despite a tough economic period.

The firm also experienced growth in UK broadcast post sales. Selling products through third parties including post production houses has boosted profitable hardware sales.

Forbidden is now developing an Android app version of its Clesh cloud video editor following steady sales of the product over the past year and advances in mobile phone technology.

"Advances in screen resolutions, network speeds and processors are all turning what two years ago was more of a technical demonstration into a major force for both professional and consumer markets," the company reported.

Forbidden said this year has kicked off with a strong pipeline of project and the board predicts growth.

RD

Recommended

Share tips of the week – 30 September
Share tips

Share tips of the week – 30 September

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
30 Sep 2022
The best British tech stocks from a thriving sector
Share tips

The best British tech stocks from a thriving sector

Move over, Silicon Valley. Over the past two decades the UK has become one of the main global hubs for tech start-ups. Matthew Partridge explains why,…
29 Sep 2022
These 3 top value stocks offer
Share tips

These 3 top value stocks offer

Professional investor Adam Rackley of Cape Wrath Capital highlights three overlooked value stocks to buy.
29 Sep 2022
Three top-notch Asian stocks to buy
Share tips

Three top-notch Asian stocks to buy

Professional investors Adrian Lim and Pruksa Iamthongthong, managers of the Asia Dragon Trust, pick three of their favourite Asian stocks to buy now.
23 Sep 2022

Most Popular

Why everyone is over-reacting to the mini-Budget
Budget

Why everyone is over-reacting to the mini-Budget

Most analyses of the chancellor’s mini-Budget speech have failed to grasp its purpose and significance, says Max King
29 Sep 2022
How the end of cheap money could spark a house price crash
House prices

How the end of cheap money could spark a house price crash

Rock bottom interest rates drove property prices to unaffordable levels. But with rates set to climb and cheap money off the table, we could see house…
28 Sep 2022
Why UK firms should start buying French companies
UK stockmarkets

Why UK firms should start buying French companies

The French are on a buying spree, snapping up British companies. We should turn the tables, says Matthew Lynn, and start buying French companies. Here…
28 Sep 2022