Trading update

RNS Number : 7399W

Mobile Streams plc

31 January 2013

 

Mobile Streams plc

("Mobile Streams" or "the Company")

Trading Update

31^st  January 2013 

London (AIM: MOS) Mobile Streams is pleased to update its shareholders on its unaudited financial and business performance for the 6 months ended 31^st December 2012:

·        Revenues of approximately £23m (compared to £8.4m in 6 months ended 31^st December 2011). All revenues are from continuing operations.

·        EBITDA is significantly ahead of the same period in the prior year

·        Cash at 31^st December 2012 of £2.2m, with no debt (compared to £0.7m at 31^st December 2011). £1.9m of the Company's cash was located in Argentina, where the Company recently re-located its finance function.

Commenting, Simon Buckingham, CEO of Mobile Streams said:

"Mobile Streams continued to grow strongly in the first six months of the new financial year. The ongoing improvement in the Company's revenues, profits and cash generation was driven primarily by solid growth in the Company's Mobile Internet subscriber base in the Latin America region, primarily in Argentina, Mexico and Colombia. The active Mobile Internet subscriber base has now passed 2.7m, compared to 1.25m at 31 December 2011. Active subscribers are defined as customers who have paid to use one of the Company's Mobile Internet services in the past two month period. 

We have entered 2013 with strong foundations and momentum and are continuing to add new markets such as Brazil to our Mobile Internet rollout. We look forward to updating our shareholders as 2013 progresses. We intend to release our interim results in late March 2013 at which time we intend to host an investor conference call.

Enquires:

Mobile Streams                                                                         [phone]

Simon Buckingham, Chief Executive Officer

Nominated Adviser and Broker

N+1 Singer                                                                                [phone]

Jonny Franklin-Adams/ Matt Thomas

 

END

 

 

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