Mobile Streams plc Trading Statement (0736M)
26 July 2017 - 4:00PM
UK Regulatory
TIDMMOS
RNS Number : 0736M
Mobile Streams plc
26 July 2017
26(th) July 2017
Mobile Streams plc
("Mobile Streams" or the "Company")
(AIM: MOS)
Trading update
Mobile Streams PLC (AIM: MOS), the emerging markets focused
mobile media company, is pleased to announce that trading for the
12 months to 30 June 2017 was in line with expectations.
Highlights:
-- Active subscribers* in India quadrupled year on year to more
than 200,000 members at the end of the financial year;
-- active subscribers* in India have since grown to more than 250,000 members;
-- revenues of approximately GBP5.6m (12 months to end of June 2016: GBP12.8m);
-- an EBITDA** loss, as anticipated, (12 months to end of June
2016: EBITDA loss of GBP0.65m); and
-- cash of GBP2.3m with no debt (12 months to end June 2016: GBP1.4m).
* Active subscribers are measured as consumers who have made a
purchase from the Company in the country in the past 60 days. For
like-for-like comparability, this is the same methodology the
Company uses to measure subscribers in its other markets such as
Argentina.
** EBITDA is defined as earnings before interest, tax,
depreciation, amortization and share-based compensation.
During the second half of the financial year the Company
continued to invest in India as it seeks to build a strong position
in the country and grow subscriber numbers. This is anticipated to
continue throughout the current financial year.
At the same time, the second half of the last financial year was
also a busy period for the Company, with several launches in India,
most notably:
-- Mobile Streams is now live with direct billing connections to
the three largest local Indian carriers. The addressable audience
of potential customers across the three is approximately 650
million customers;
-- the launch of both the Company's main daily and weekly games
subscription services with the three largest carrier partners in
India. Both services are available via downloadable android apps
and HTML5 browser based games; and
-- the launch of a direct billing connection with another large
local carrier partner in India with approximately an additional 100
million potential customers.
In Argentina, trading remains in line with expectations as
updated in March 2017.
Commenting Simon Buckingham, CEO, said: "The Indian market
continues to undergo significant consolidation, innovation and
evolution which, amongst other things, is driving greater
smartphone, data and games usage amongst consumers.
"We are extremely pleased to now have direct billing connections
with the top three operators and, whilst we are still in the
investment phase of operations where progress can at times be
uneven given the rapidly changing market, I remain convinced that
India is the largest opportunity for the Company. To that end, it
is particularly pleasing to see the continued strong growth in user
numbers in India.
"We are well positioned to execute in the market and deliver
shareholder returns."
Enquires:
Mobile Streams
+1 347 669 9068
Simon Buckingham, Chief Executive Officer
Enrique Benasso, Chief Financial Officer
N+1 Singer (Nominated Adviser and Broker)
+44 (0)20 7496 3000
Alex Price
Alex Laughton-Scott
This information is provided by RNS
The company news service from the London Stock Exchange
END
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July 26, 2017 02:00 ET (06:00 GMT)
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