Trading Update

RNS Number : 8851H

Mobile Streams plc

18 July 2012

 



Full Year Trading Update

18th July 2012

Mobile Streams plc

("Mobile Streams" or the "Company")

Mobile Streams PLC (AIM: MOS), one of the leaders in supplying and marketing mobile apps and mobile media on a global basis, is pleased to provide an update its shareholders on its unaudited financial and business performance for its latest financial year, the 12 months ended 30 June 2012:

-           Revenues of more than £20m (compared to £15.5m for the 18 months ended 30 June 2011). All revenues are from continuing operations and include no exceptional items.

-           Out of these total revenues, Mobile Internet revenues were more than £15m (compared to £7.5m for the 18 months ended 30 June 2011).

-           Significantly increased EBITDA* (compared to £0.5m for the 18 months ended 30 June 2011) .

-           Positive profit after tax and positive EPS expected (compared to a loss after tax of £0.2m for the 18 months ended 30 June 2011).

-           Cash of £1.7m, with no debt (compared to £1.1m at end of June 2011). More than 90% of the Company's cash is in Argentina whose government, as previously reported, imposed currency controls at the beginning of 2012, which continue to prevent the repatriation of funds to the parent Company.

-           Mobile Internet subscribers doubled to 1.75m active subscribers (compared to 846,000 at end June 2011).

*Calculated as profit before tax, interest, amortisation, depreciation, share compensation expense and impairment of assets.

Commenting, Simon Buckingham, CEO of Mobile Streams said:

"Mobile Streams will be reporting recorded record growth in revenues, profits and cash generation for the most recent financial year. The Company's annual revenues were more than four times larger than they were at the time of its Initial Public Offering (IPO) around 6 years ago.

Mobile Streams enters the new financial year starting 1st July 2012 with strong momentum and a clear focus on expanding its operating base in Latin America and on open mobile Internet services including Appitalism for apps and games.

The Company's management remains upbeat for the new financial year, in which revenue is expected to be largely generated in Latin America in markets such as Argentina, Brazil, Colombia and Mexico. The Company is in the process of relocating our global finance function and recruiting a new Group CFO to be based in Argentina.

We are excited with the Company's positioning and with the opportunities for the Group as mobile services continue to grow in importance for most companies.

We look forward to updating shareholders with our progress over the course of the next twelve months and beyond."

Enquires:

Mobile Streams [phone]

Simon Buckingham, CEO

Nominated Adviser and Broker

Singer Capital Markets Limited [phone]

Jonny Franklin-Adams

 

END

 

 

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