With a market cap of 16.4 M, Investec rated 7digital a buy on 6th Jan 2016. On 21st Jan a deal was made with e Music making it one of the largest, most comprehensive digital services in the world, comparable only to Apple i Tunes & Amazon. Now with over 25 million songs available on or off line on any device anywhere in the world. on the same day Cruickshank Donald bought 653,000 shares @6p. By the 29th Jan Paul Mc Gowan, a non exec director bought 250,000 shares @ 13.25p.
The CEO Simon Cole said "We are pleased with the progress made in 2015 and we remain on track to achieve profitability by the end of 2016 and beyond".
Latest results show production revenues up 49% from 1.2M to 1.8M.
Gross margins up to 70%.
Monthly revenues up 72% from 3.4M to 5.8M
Licencing revenues up 21% from 5.4M to 6.5M
Average trading volumes have also been up dramatically.
It has a stock rank of just 23, but there is certainly some action!
7DIG was formally known as UCB
