i-mate posts profit of $22.5 million

DUBAI — In its first year of trading as a listed company on the Alternative Investment Market of the London Stock Exchange, i-mate, the Dubai headquartered specialist in Windows Mobile hardware and software solutions and services, has posted profits before tax of $22.5 million for the year ending March 31, 2006.

By Staff Reporter

Published: Fri 26 May 2006, 12:24 PM

Last updated: Sat 4 Apr 2015, 3:46 PM

Profit increased by 56 per cent against $14.3 million in 2005, while sales increased to $206 million, a rise of 51 per cent. Gross profit margins were 24.1 per cent.

Sales grew in Europe by 110 per cent to $75 million, contributing 36 per cent of global sales. During the year the company established an office in India and expanded its operations in Dubai, United Arab Emirates; Seattle, United States; and Melbourne, Australia.

Commenting on the results, Bernard Cragg, chairman of i-mate plc, said: "i-mate has had an excellent year in which it expanded its portfolio, widened its distribution and maintained superior customer service. With the Microsoft Windows Mobile market projected to grow by more than 400 per cent, i-mate is in an ideal position to lead this growth. The i-mate brand has become recognised as a leading exponent of Microsoft based mobile technology. We look forward to 2007 with significant confidence."

During the year ending March 2006, i-mate launched eight new products to include the latest wireless device capabilities and technologies. The company also developed proprietary software including the launch of i-mate Suite. Compatible with all Microsoft Windows Mobile devices, i-mate Suite provides complete mobile enterprise functionality including command and control, security and data back-up of wireless devices.

i-mate provides superior customer service through Club i-mate, its online registered user group. During the year its membership base increased by 250 per cent to 420,000, making it one of the largest Windows Mobile user groups in the world.