Motive TV making financial progress
September 27, 2013
By Chris Forrester
Motive TV’s ‘Television Anytime Anywhere’ platform, helped by fresh contracts with Digiturk, CME and a heads-of-agreement in place with South Africa’s Siyaya FTA TV, saw H1 revenues grow 16 per cent in the half-year to June 30th, and gross profits up 90 per cent.
Actual revenues were £573,082, with profits of £208,725 (same period 2012 £109,778). The company is still in loss-making mode, but those losses are much improved this year. Actual losses were reduced by 20 per cent at £984,478 (2012/1H £1.234 million).
Motive raised a further £1 million in operating capital and this means that the company still has £566,026 cash in hand as at June 30th.
Michael Pilsworth, Executive Chairman, said: “The Company is making significant progress in attracting new clients, gaining recognition for its ground-breaking solutions, completing and patenting its technology, and moving toward launches of new services in participatory partnership with our clients. Motive has the technology, the opportunities, and the financing now to realise its potential.”