I-Design: The Fife-based ATM advertising specialist saw its revenues double to just over £2m last year, its first full year as a listed company.

But while the AIM-listed firm said it was heading in the right direction to break even and make a maiden profit, it gave no firm date.

Ana Stewart, founder and chief executive, said the firm was well placed for the year ahead and there were no indications the credit crunch had affected plans.

I-Design has pioneered the use of cash machines for advertising. During the last year, the company won its biggest ever contract, with Royal Bank of Scotland, the largest ATM operator in the UK.

The company also has deals with Alliance & Leicester and Nationwide. It is now looking to further exploit the European market after its first overseas deal with a leading bank in Greece.

I-Design’s software is now licensed to 12,000 machines, with 4,500 available for third-party advertising. The firm said it had reduced operating losses to £623,000 from £656,000 and had a strong balance sheet, with assets including £2.1m cash or equivalent, at September 30.

House broker Arbuthnot said it was hopeful I-Design will move towards breakeven/profitability in the current year.

I-Design, chaired by advertising industry veteran Jim Faulds, is based in Newport-on-Tay, near Dundee, and has increased staff numbers by a third to 35 in the last year.

Shares ended the week at 20.5p.

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