Mobile Streams plc Trading Update (5932E)
14 May 2013 - 4:00PM
UK Regulatory
TIDMMOS
RNS Number : 5932E
Mobile Streams plc
14 May 2013
Mobile Streams plc
Trading Update
Mobile Streams plc (AIM: MOS) (the "Company" or "Mobile
Streams") is pleased to update its shareholders on its unaudited
third quarter (1 January to 31 March 2013 inclusive) trading
performance:
- Revenues of GBP14.5m, compared to GBP5m in the third quarter of 2011/2012
- Mobile Internet revenues of GBP13.5m, compared to GBP3.8m in the third quarter of 2011/2012
- Gross Profit was ahead of management's expectations driven by significantly higher revenues
- Active mobile internet subscribers surpassed 3.1 million,
compared to 1.3 million at the end of the third quarter of
2011/2012 and 2.7 million as at 31 December 2012. Active
subscribers are defined as consumers who have purchased content
from the Company in the past two months.
- The cash balance was GBP3.4m at the end of March 2013 (31
December 2012: GBP2.0m), of which GBP2.9m was held in Argentina. At
the end of the third quarter of 2011/2012, cash was GBP1.4m, of
which GBP1.2m was held in Argentina.
Commenting, Simon Buckingham CEO of Mobile Streams said: "Our
strong performance continued in the third quarter of 2012/2013. The
revenue growth was driven by continuing success in Mobile Internet
services in Latin America where active subscribers more than
doubled. Based on the current trading performance, we expect a
strong end to the current financial year ending June 30(th)
2013.
Additionally, the Company won and launched some new contracts
during the first quarter. For example, Mobile Streams is now
powering the Optus Apps digital content store in Australia, in
addition to the longstanding partnership managing the Optus Games
Store. This new agreement extends the Company's relationship with
Australian mobile phone operator Optus, part of Asia's leading
communications group, Singapore Telecommunications Limited
(SingTel). The new Optus Apps store powered by Mobile Streams and
powered by the Company's Appitalism store is now live for all Optus
customers.
We look forward to further updating shareholders on trading
performance after the end of the current financial year, followed
by our full-year audited results".
Enquires:
Mobile Streams +1 646 812 4749
Simon Buckingham, Chief Executive Officer
Nominated Adviser and Broker
N+1 Singer +44 (0)20 7496 3000
Jonny Franklin-Adams/ Matt Thomas
This information is provided by RNS
The company news service from the London Stock Exchange
END
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