Vision Media Group International | News
29th September 2005 Interim Results : Network roll-out continues
ScreenFX plc, which offers digital screen advertising in shopping centres across the UK, today announces its interim results for the six months to 30 June 2005:
Operational highlights
- Established leading network of large plasma screens in 10 of UK's premier shopping malls, including MetroCentre, Lakeside and centres in Glasgow and Edinburgh.
- Network to be extended by a further 8 malls in Q4 2005 following long term contract wins with Westfield Shoppingtowns and Trafford Centre, Manchester.
- Letter of intent signed for a further five malls across the UK.
- Market research continues to support high impact of digital screen advertising.
- Advertising agreement with Warner Bros will benefit second half revenues.
Results summary
- Turnover for the half year improved to £118,000 (2004: £47,000).
- Operating losses increase to £1.6 million (2004: loss £0.7 million).
- Cash in hand of £1.3 million at 30 June 2005.
Richard Nichols, Chairman of ScreenFX said:
"The first half has seen the continued development of the group as we now have a fully operational network offering big screen advertising to almost 200 million customers in some of the UK's leading shopping malls. We also have the ability to extend this to over 330 million customers with the contracts recently signed with Westfield and the Trafford Centre.
The company is entering a key stage of its development as we seek to convert the positive endorsement of the network by major national advertisers into revenue.
The lack of revenue generation in the first half was disappointing although there have been some more encouraging signs for second half revenues, particularly the contract signed with Warner Brothers in June. We continue to believe that the market has the potential to grow strongly and with the increased critical mass which can be achieved with the proposed funding we expect to conclude following these results, our focus remains on developing sustained revenue growth across our network."
For further information:
| ScreenFX plc | |
| David Clark, Chief Executive | Tel: +44 (0) 161 428 5544 |
| info@screenfx.com |
Media enquiries:
| Abchurch | |
| Henry Harrison-Topham / Katherine Murphy | Tel: +44 (0) 20 7398 7700 |
| Katherine.murphy@abchurch-group.com | www.abchurch-group.com |