The London-based supplier of business management software to the media industry around the world, also reveals in its results for the nine months ended 30 September 2011 and the three months to 30 September 2011 Q3 revenues up by 5.1% to £5.51 million (Q3 2010 £5.25 million)and Nine months 2011 profit: £1.29 million (Nine months 2010: £1.44 million)

The company also reported nine months loss after tax: £1.33 million (Nine months 2010: profit £398,000)

Q3 profit after tax was £370,000 (Q3 2010: £54,000) Commenting on the results, Michael Rosenberg, Chairman of Pilat Media Global plc, said: "We are pleased to have announced the settlement of our dispute with Fox Television Stations Inc with the result that the Company will now be receiving a payment from them.

"Our Q3 revenues continued to grow on the back of increased demand from our existing client base, bringing the growth over the last nine months to over 4%. We continue to make significant investment in improving and expanding our products and this in part has enabled revenues from our existing clients to increase.

"We are also engaged with a number of new potential projects but these are moving forward at a slower pace than we had envisaged and this will inevitably restrict growth for this year."

At 8:36am: (LON:PGB) Pilat Media Global share price was +2p at 28p

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