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Pilat Media Global PLC

(“The Company” or “Pilat Media”)


Preliminary Results for year ended 31 December 2003


Pilat Media Global plc, the London-based supplier of business management software to broadcasters around the world, today announces its Preliminary Results for the year ended 31 December 2003.

Summary:
· 28% increase in turnover to £9.42 million (2002: £7.35 million)
· achieved first profit within 22 months of independence with pre-tax profit of £0.6 million (2002: £0.24 million loss)
· 465% increase in EBITDA to £1 million from £0.22 million
· 36% increase in client base
· strong sales growth in both the North American and Australasian markets
· signed largest contract to date with CTV Inc. in Canada worth over £10 million
· first major Asian client signed with the pay-TV platform Astro in Malaysia
· cessation of royalties with BSkyB as of September 2003


Commenting on the results, Michael Rosenberg, Chairman of Pilat Media Global plc, said:

“Although Pilat Media operates in a dynamic and highly competitive marketplace, we believe that the Company is now well positioned for continued growth. Our pipeline of new prospects is strong and recent contract signings with CTV and Astro combined with ongoing customer work has provided us with our best ever visibility of future revenue earnings. Pilat Media will intensify its investment in the development of our service and product to both new and existing clients and 2004 looks set to continue the revenue trend of earlier years.”



For further information:

Pilat Media Global plc
Avi Engel, Chief Executive OfficerMartin Blair, Chief Financial Officer Tel: +44 (0) 20 8782 0700
aengel@pilatmedia.com www.pilatmedia.com

Shore Capital
Alex Borrelli / Jonathan Nelson Tel: +44 (0) 20 7408 4090
alex.borrelli@shorecap.co.uk www.shorecap.co.uk

Media enquiries:

Bankside
Henry Harrison-Topham Tel: +44 (0) 20 7444 4140
henry.ht@bankside.com www.bankside.com

This press release was distributed by ResponseSource Press Release Wire on behalf of Lothbury Financial in the following categories: Business & Finance, Computing & Telecoms, for more information visit https://pressreleasewire.responsesource.com/about.