Jun 27th 2012 - Edison Investment Research today published a report on I-Design (IDG.L, LSE:IDG, LON:IDG) entitled "Licences Up 30% – A Growth Marker". In summary, the report says:
i-design’s interims show continuing progress, with revenue up 13% and gross profit rising 39%. Normalised EPS came in at 0.6p versus a loss of 0.4p a year ago. This provides good comfort for our FY12 and FY13 estimates. Following the addition of a large Canadian bank last November and more joono licences added this month, the total ATM and self-service estate has increased to 28,000, up 30% on nine months ago. However, third-party media revenue was at a similar level to a year ago, set against tough market conditions, which have continued into the second half. The group remains solidly funded and continues to have significant medium-term potential for both profitability and valuation.
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