Scotland business

ATM advertising firm i-design eyes future growth

Generic pic of a person withdrawing cash from ATM
Image caption The company has sealed several deals for its ATM advertising software since March

Dundee-based ATM advertising firm i-design has reported "encouraging" opportunities for growth after posting first-half pre-tax profits.

The company said it made a profit of £45,000 in the six months to the end of March, compared to a loss of £105,000 for the same period last year.

Revenues also increased by 13% to about £1.6m.

The firm said its results were boosted by several sales successes, including its first contract win in Canada.

In November, it signed a major new deal to supply its targeted marketing software, joono, to a leading Canadian bank.

The firm said the second half of the year had also started well.

Since March, i-design has signed a major contract with merchant processing services provider First Data for the supply of joono software, and has sold an additional 3,000 software licenses to Barclays Bank and US-based Cardtronics Inc.

Chairman James Faulds said: "With £0.81m net cash and no bank debt, i-design's financial position remains robust.

"This, together with the significant growth opportunities available to the group, means that we view the future positively."

The company's total licensed ATM and self-service estate now stands at 28,000 devices - up from 21,500 in September 2011.

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