Gaining momentum ……..
Immedia has delivered, in line with our previous forecasts, a significant improvement in its full year results, bringing the Group back into profitability and enhancing its cash balances. FY18 PBT of £106K represents an impressive swing of £800K from last year’s result. This has been driven by a combination of strong turnover growth, gross margin improvement and tight cost control. While much of this benefit came from the Nationwide contract, trading relationships strengthened with other key clients, notably JD Sports and Subway, resulting in further expansion of geographic coverage, which is set to continue. The current year is performing in line with company expectations with a good pipeline of opportunities. With Immedia in advanced talks with key target clients, further trading updates are anticipated over the course of the current year.