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Yearend results for 2011 tell of Forbidden success

28 March 2012
Yearend results for 2011 tell of Forbidden success

A banner year for Forbidden Technologies saw a sales increase of 25% in 2011 and some major contract wins including licensing FORscene to YouTube and Ericsson, plus partnerships with AP ENPS in news and EVS in sport. The company also launched Clesh, an Android app version of FORscene. Financial highlights include a sales increase of 25% to £466,674 (2010: £372,139), gross profit increase of 29.5% to £417,769 (2010: £322,512), net assets of £2,044,349 and debt free, loss per share of 0.22p, up from 0.16p the previous year and net losses of £186,218 (2010: £129,749) as a result of the Company’s policy of increasing investment in R&D, marketing and sales resources. On the technical side, the capacity of the FORscene Cloud architecture has increased markedly. FORscene design improvements and economies of scale mean the double-digit percentage increase in sales over 2011 actually cost less to serve. The Company strategy continues to focus on the four primary sectors where its technology has the opportunity to play a major role in shaping new workflows and to be a significant force: broadcast postproduction; news and sports innovation; the social media consumer and education. Vic Steel, chairman of Forbidden Technologies, commented: “Over the past year, and in the first quarter of 2012, the Company has achieved increased recognition of its technical excellence among a diverse group of major companies across the world, including the appointment of Techtel as distributor in South East Asia and the licensing of Forbidden’s video platform to YouTube announced in December 2011. www.forbidden.co.uk

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