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Forbidden operating losses narrow

By BFN News | 07:25 AM | Tuesday 08 March, 2016


Forbidden Technologies posts an operating loss of GBP2,662,606 for the year ended 31 December - down from GBP3,644,168 in 2014. Gross sales rose to GBP708,717 (2014: GBP689,222) and year-on-year costs were reduced by GBP1,496,467. The group - owner and developer of Forscene (the market-leading cloud video platform), Captevate (the consumer video editor), and eva (the video social network) - said it is debt free with cash and cash equivalents of £1,675,695 (2014: £4,358,900). Chief executive Aziz Musa said: "2015 was a year of transition for Forbidden in terms of personnel, strategy and culture. Moving forward into 2016, the business is stable, we have an incredibly strong portfolio of products and a very clear focus on increasing sales. Already this calendar year we have made encouraging progress against our stated objectives and the Board is committed to continuing in that vein for the rest of 2016 and beyond." Story provided by StockMarketWire.com

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