News Column

Forbidden Technologies Says Gross Profit Up In Year To Date

June 6, 2014

Hana Stewart-Smith

LONDON (Alliance News) - Forbidden Technologies PLC said Friday that it expects to see revenue in its first half broadly flat although gross profit has increased in the year to date as it increased sales of its software licenses, in a statement ahead of the company's annual general meeting.

Forbidden owns and develops a cloud video editing platform, FORscene.

The company said revenues were likely to be flat as a result of a major continuing television series in the UK commencing later than in previous years.

Forbidden said it has seen "significant interest" at its new North American subsidiary since the redesign and relaunch of its business. It established a new subsidiary in California in March in an effort to capture some of the North American broadcast, sports and news video editing market.

The company said it is "mid-way through a major programme of redesigning the majority of our activities." It revamped the look of its business and the FORscene platform, which it revealed at broadcast trade show NAB in April.

Since NAB, the company said its North American team had generated interest from customers, placing evaluation servers with eight clients to test. It is building interest in the Easter US and Canada, it said, as it builds its sales presence in those territories.

Forbidden launched a new version of FORscene for use on tablets at NAB, and said that this product was "the next step in the company's long term plan to dominate the mobile video creation space."

Shares in Forbidden were trading up 1.9% at 23.55 pence Friday morning.

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Source: Alliance News

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