I-Design cashes in on ATM software deal

I-design, a Scottish firm that provides software for cash machines, has enjoyed "a strong first half" to its financial year after a contract win boosted income.

The Dundee-based company signed a deal in October to run its software on 500 ATMs in the UK and the Netherlands belonging to YourCash, a major cash machine provider in Europe.

In a trading update yesterday, I-design, which also provides marketing on ATMs for clients such as banks, said a previously highlighted "positive trend" in "media revenues" - its advertising income stream - had continued in the six months to the end of March.

It said: "Media revenues are expected to show a marked increase on both the comparable period last year and on the second half of the last financial year."

I-Design said the YourCash deal had taken its ATM and self-service estate to about 17,000 units. It also provides advertising to a further 9,900 cash machines on a third-party basis.

The agreement has also given the firm its first foothold in the Netherlands. I-design's clients also include Royal Bank of Scotland and Eurobank EFG in Greece.

The group said discussions with other potential new banking customers remained "very encouraging".

The board reported that it was pleased with the group's trading performance in the first half of the financial year and views second-half prospects "very positively."