Losses double for Fife ATM advertiser

i-design counts many of the major banks among its customers

The Fife company, i-design, which pioneered the use of cash machines for advertising, has reported full year pre-tax losses of £1.1m.

That is compared with a loss of £536,000 the year before.

i-design was set up in 1991 and its clients include many of the major banks such as RBS and Barclays.

The company said although the last year had been challenging, total revenues grew by 14% and the group's cash position was healthy.

i-design said its software product, atmAd, was licensed to around 12,000 ATMs and had been installed across 6,400 ATMs in the UK and more than 300 in Europe.

The 12,000 ATMs account for just over one-third of all UK ATMs operated by financial institutions.

i-design said it remained the only provider both in the UK and overseas, with the ability to facilitate ATM advertising.

Chairman, Jim Faulds, said: "The potential to roll out our advertising solution across further ATM networks and scale the business remains substantial."

He added that the company was well placed for growth as both the banking and advertising sectors recovered.