i-mate warns of pre-tax loss

Mobile device maker i-mate will make a "marginal" loss before taxation for the past year, it said this week.

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By  Administrator Published  April 19, 2007

Mobile device maker i-mate will make a "marginal" loss before taxation for the past year, it said this week.

The company said that annual sales remain in line with estimates of US$190million to US$200million given earlier this year. Cash held at the year end totalled US$65million.

The handset vendor said this month that it was making ten of its 75 Dubai-based staff redundant.

In its latest statement, i-mate said: "Management has undertaken a complete structural and operational review to enable the company's next stage of growth and support the launch of new product ranges. This has also focused on i-mate's ability to control certainty of production and quality of product."

The London-listed firm says it will now operate with four regional sales territories while centres of expertise are being established; this will lead to software being based out of the US, hardware out of the UAE, and research and development (R&D) out of the UK.

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