Motive Television “substantial progress”
August 28, 2015
Motive Television, the digital television technology, software and services provider, has published its interim results for the six months ended June 30th 2015.
Financial highlights:
– Revenue from continuing operations up 17 per cent to £673,410 (€919,000) (H1 2014: £577,740)
– Gross profit from continuing operations up 6 per cent. to £292,757 (H1 2014: £276,409)
– Loss attributable to continuing activities and developing new business before interest decreased by 12 per cent. to £955,283 (H1 2014: £1,086,616 loss)
– Administrative expenses were reduced by 16 per cent. to £1,117,489 (H1 2014: £1,333,916), excluding depreciation and amortisation
– Cash reserves at June 30th 2015 were £223,291
Operational highlights
– Completed the product development of TabletTV US and TabletTV UK with Apps for iOS and Android devices
– Prepared for Beta testing during summer of PVR functionality and OTT channels for TabletTV in preparation for autumn launch of new services
– Developed new product BYOD TV and launched services on 14 ships with two ferry companies operating in Greece.
Michael Pilsworth, Chairman, said: “The first half of 2015 saw the Company making substantial progress in completing development and testing of new products, identifying distribution partners, and preparing them for widespread marketing in the autumn. At the same time, the Company reduced its cost structure and is positioned to start to reap the benefits of its investment in technology and positioning in the industry over the past six years.”