Screen Technology signs contract to supply displays to Virgin stores
Harston based Screen Technology has signed a breakthrough contract that will see its ITrans screen displays rolled out across 16 Virgin Megastores across the UK. AIM-listed Screen Technology’s shares rose just over 12 per cent to 63.5p on the news.Harston based Screen Technology has signed a breakthrough contract that will see its ITrans screen displays rolled out across 16 Virgin Megastores across the UK. AIM-listed Screen Technology’s shares rose just over 12 per cent to 63.5p on the news.
The Cambridge company’s technology uses moulded optical fibre tiles to produce seamless large displays using standard production LCD panels.
The scaleable modular technology enables screens to be built in a wide variety of shapes and of theoretically unlimited size.
Two displays have already been installed and are operating in Virgin’s flagship stores in Piccadilly Circus and Birmingham New Street. A third is being installed in Virgin’s Manchester Arndale Centre Megastore in time for the Centre’s official re-opening in November.
The remaining 13 units will be shipped by the end of the year in time for installation to commence in Megastores around the country early in the New Year.
The 63 inch screens will promote brands, films and products. Advertising on the screens is being handled by Digital Screen Networks which has a five year agreement with Virgin to promote advertising content and which works closely with Virgin’s branding agency, Sequoia. Microsoft X Box, Sony Pictures and EMI are already using the new screens for their advertising content.
One of the benefits of Screen Technology’s displays are that they are visible from short and long distances in daylight.
The company has recently commenced commercial production of ITrans displays and, with its first high speed production machine currently being commissioned, Screen Technology said it will soon be able to accept a greater number of orders similar to this.
In an update on current trading, Screen Technology said its pipeline of sales opportunities continues to build. It revealed that it is in “advanced discussions” with a number of OEMs and said it is looking forward to making a further announcement shortly.
It expects revenue for the period ending 31 December 2006 will be in the range £800,000-£1.25m.
Tom Jarman, chief executive of Screen Technology said: “We are delighted to be supplying our displays to such a high profile brand as Virgin, which will put our innovative screens in front of millions of people across the UK.
“The roll-out programme of our screens throughout Virgin Megastores is a significant endorsement of our market leading technology.
Jarman also said that his company had put its recent production problems behind it. “Since our flotation in 2005 we have been gearing up for the mass production of ITrans and we are now beginning to see the benefits from this period of development.
“We look forward to announcing further orders as we begin the major push forward into the commercialisation phase of the business and maximise the benefits of our new high speed production capabilities.”