Pilat Media Global sees Q3 profits rise
Media software house Pilat Media Global saw its like-for-like three-month profits jump from £0.05m to £0.50m, although nine-month profit turned to a loss of £1.8m for the firm.
Media software house Pilat Media Global saw its like-for-like three-month profits jump from £0.05m to £0.50m, although nine-month profit turned to a loss of £1.8m for the firm.
Nine month revenues were up 4.4% to £16.35m (2010: £15.67m), while third quarter revenues were up by 5.1% to £5.51m (2010: £5.25m).
Chairman Michael Rosenberg said: "Our Q3 revenues continued to grow on the back of increased demand from our existing client base, bringing the growth over the last nine months to over 4%.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
"We continue to make significant investment in improving and expanding our products and this in part has enabled revenues from our existing clients to increase."
The firm warned that while it is also engaged with a number of new potential projects, these are moving forward at a slower pace than it had envisaged and this will inevitably restrict growth for this year.
"The board expects the continued improvement the company has seen to date over the previous year to continue for the rest of this year though overall growth may be below the board's internal expectations but in line with market expectations due to delays in new project signings."
However, elsewhere it was good news for investors as the firm has settled its dispute with Fox Television Stations and will receive $850,000 (£544,000).
The share price rose 2.88% to 26.75p by 13:19.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Thousands of estates are sitting unclaimed in the UK – is your family name on the list?
More than 5,700 unclaimed estates are on a government list waiting to be found by living relatives. We take a look at the list, and explain how to make a claim
-
420,000 more pensioners to be dragged into paying income tax – how does tax on the state pension work?
Hundreds of thousands more pensioners will need to pay tax on their pension income at the end of this tax year, new HMRC data shows. We look at how taxation on the state pension works.