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Forbidden Technologies: Double digit percentage sales growth in 2011

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Shares in Forbidden Technologies (LON:FBT) were up over 4 per cent in early deals after the Cloud video specialist issued an upbeat trading statement.

The firm, which markets a Cloud video platform for the social media sphere, said the statement covered the year to December 31.
 
Forbidden's video platform is called FORscene and it told investors today that organic growth had lead to double digit percentage sales increase in 2011. And it added that its visible sales pipeline for 2012 already showed further expansion.

One of the four market segments the firm is focused on is episodic television. In this area, the firm has signed up Post Houses, which makes FORscene available to production company clients, and this has led to an increase in sales in the first half of last year and continued high growth in H2, it said.

Progress has been made in both news and sports markets, the firm added.

The firm said growing sales income had financed investment, as had capital reserves, and the increased loss in the 2011 year was due to this increased investment.

It added that its licence deal with YouTube would make a significant contribution to Forbidden's 2012 results.

As at 9.44 am, the firm's shares were up 4.17 per cent, to change hands at 37.5 pence.

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