Forbidden Technologies reaching for the sky

Cloud-based video platform developer Forbidden Technologies said its visible sales pipeline for 2012 is looking fatter, even after a strong year of organic growth in 2011.

The company said that its losses increased in 2011 but this was as a direct result of increased investment in the long term future of the business.

The company increased sales and marketing spend, and research and development expenditure, in the second half of 2011 to address new markets and tool-up in readiness of capturing larger deals.

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"Forbidden has made good use of its financial and technical flexibility. The company believes it is on track to become the world standard in Cloud video editing, with different channels proceeding on different time scales," the company statement said.

Shares rose 1.5p to 37.5p on the morning of the trading update.

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