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Market confidence could foster giant ANT

Written by Sam Fountain

Thursday, 28 February 2008

ANT chairman, Royston Hoggarth A strong second half performance has made the market recognise the huge potential of tiny digital TV software provider, ANT Plc, after news of positive trends in the firm's second half results sparked a massive 65 per cent boost for its shares. Micro-capped ANT, which provides software and solutions for the IPTV, digital TV and consumer electronics industries, posted widened losses for the year to December, but said that positive trends which emerged within the second half last year have supported its long term confidence in the value potential of its technology. The Cambridge-based firm said that pre-tax loss had widened from £1.1m to £2m on reduced revenues of £2.9m, but added that it had narrowed operating expenses by 31 per cent while improving its gross margins to 85 per cent. It said that after overcoming a challenging start to 2007, a strong improvement in the second half saw good growth in unit shipments, a number of new deals signed with licensees and the development of a unique position to benefit from the roll out of SA/Cisco's IPTV platform as their service platform and applications supplier of choice. "2007 was a year of transition for ANT," said chairman, Royston Hoggarth. "After a difficult start to the year, performance in the second half was much improved. We enter 2008 with our high gross margin maintained, a stable, relatively fixed cost base, and a strong cash position." ANT said that a strategic review of its business carried out over the past six months has confirmed its belief in the value potential of its technology, adding that the capability of our technology is not limited to IPTV; cable, satellite and terrestrial TV are also prime targets for its products. "We now need to build on the progress we achieved in the second half which we are pleased to report has continued into the new financial year," continued Hoggarth. "We look forward to the future with increasing confidence." That confidence has apparently been shared with the market after the company's share price grew by 65 per cent to 25.5p on the news, valuing the firm at £6.8m.

 

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