I-design surprises City with move into profit ahead of forecasts

CASH machine advertising firm I-design unveiled its maiden profit yesterday, a year ahead of City forecasts, after winning a series of major contracts.

The Dundee-based company, which writes software that allows banks to show advertisements on their screens, posted a pre-tax profit of £105,000 for the year to 30 September, swinging from a £962,000 loss in the previous 12 months.

Profits were swollen by a £74,000 credit relating to changes in the way that research and development costs were treated in the accounts, but house broker Arbuthnot Securities said the results were still “stronger than anticipated”.

Revenues soared by 62 per cent to £3.5 million, boosted by contracts with Barclays covering 4,000 automated telling machines (ATMs) and 500 units with YourCash, one of Europe’s biggest cash machine operators.

I-design markets its software to banks and other ATM operators – with its clients including Nationwide Building Society, Royal Bank of Scotland and Santander – and then also sells advertising space to a range of brands, such as British Airways, McCain, Pizza Hut and T-Mobile.

Chief executive Ana Stewart told The Scotsman: “We’ve had growth from all areas of the business this year.

“It’s not just the banks that are getting excited about our products but also the advertisers too. We can show exactly how many people have watched adverts or taken a voucher away printed on the back of their receipt – we’re the only form of outdoors advertising that can offer that kind of service.”

Stewart founded I-Design in 1991 and listed the company on the Alternative Investment Market (Aim) in 2007, the same year in which Scottish advertising tycoon Jim Faulds took over as the group’s chairman.