Baseball marketing and representation group TLA Worldwide (TLA) delivered a loss of $3.2m (£2m) as it released its maiden results following last year’s IPO.
The AIM newcomer — which joined the junior market last December in an IPO that raised £12m at a price of 20p a share — reported the loss on results that covered a mere 23 days of trading from the date of its IPO last year until the end of 2011, with the loss reflecting the limited period of trading.
According to the AIM-listed company there is a focused effort on expanding baseball marketing to Latin America and making inroads in Asia.
In an interview with Growth Company Investor, chief executive Mark Principe indicated that the group has plans to introduce Major League Baseball to continental Europe.
He reiterated the importance of the established American baseball market, worth $7bn, and its inherently fragmented nature, which provides opportunities for growth and expansion. Contracted revenues are already 79% of market expectations of total revenue of $14.9m for 2012. Significant shareholders include Octopus Investments at 9% and ISIS at 13.9%.
Analysts at house broker Cenkos are forecasting a pre-tax profit of $6.6m on sales of $14.9m for the year to December 2012. A dividend of 0.6p a share is also pencilled in.
The company maintains strong on-field professional baseball fundamentals and has negotiated more than $100m of contracts for its 21 new clients in addition to 13 established ones. One of the more unusual companies on the junior market, the shares are a buy.