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Forbidden Tech optimistic after first half changes

The video editing specialist has re-focused on sports and its consumer video editing platform eva.

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Forscene is also being used on a major sporting event to be held in the UK in September.

Forbidden Technologies (LON:FBT) expects the benefits of a recent restructuring to start showing through in the next six months.

The video editing specialist has re-focused on sports and its consumer video editing platform eva, moves that affected its first half numbers but which it is confident will pay off over the longer term.

In particular, internal restructuring among the commercial and marketing team included management and sales team changes  and a new North American business development strategy.

Revenues in the half year to June eased to £327,000 (£348,000), while losses rose by £1.35mln (£1.16mln).

Within that, sports revenue rose 186% to £80,000 while deferred or future revenues, again largely sports-related, jumped five-fold to £220,000.

Forbidden added it had recently agreed a contract with Shine Television to use its editing platform Forscene in their upcoming series of "The Island with Bear Grylls". 

Forscene is also being used on a major sporting event to be held in the UK in September, it added.

Stephen Streater, managing director, said: “"H1 was a period of positive change for the company and the board remains confident that, as the transition into Internet video gathers pace, Forbidden is better placed than ever to capitalise on the commercial opportunity."

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