8th May 2019 11:43
LONDON (Alliance News) - Forbidden Technologies PLC on Wednesday said it started 2019 with the "progress and momentum" achieved in 2018 as it looks confidently ahead.
In his annual general meeting statement, Chair David Main said: "The board is confident that the business is now focused with a strong, incentivised team, a best-of-breed product, a clear strategy, the Blackbird brand, and the financial strength to accelerate growth, realising value from our Blackbird technology and platform."
Forbidden Technologies reported a wider annual loss in 2018 due to higher expenses and despite revenue growth. Its pretax loss was GBP2.6 million, compared to GBP2.4 million a year ago as operating costs jumped to GBP2.7 million from GBP2.5 million. Revenue rose 15% to GBP870,310 from GBP758,835 in 2017.
Shares in the cloud video platform technology developer were trading up 1.5% at 6.34 pence each on Wednesday.