Result of AGM

RNS Number : 2346S

Mobile Streams plc

16 November 2011

 



16 November 2011



Mobile Streams plc

('Mobile Streams' or the 'Company')

Annual General Meeting Announcement

Mobile Streams plc, ('Mobile Streams' or 'the Company'), the global mobile content retailer, today held its Annual General Meeting and all resolutions were duly passed.

The Chairman, Roger Parry, made the following statement:

"The current year has begun well and the Board expects Mobile Streams to experience the same trends as the mobile content industry, namely, steady operator revenues boosted by rapid growth on app distribution deals and mobile internet services.

Mobile Streams maintains strong direct operator relationships in several markets around the world including Australia, Singapore, Argentina, Mexico and Colombia, as well as partnerships with many leading telecoms companies.

Our global reach combined with our robust distribution platforms, significant content resource and experienced management team places us in a strong position to take a key role in the expansion of the mobile internet going forward.  However Mobile Streams plc remains a young start up company in a very fast growing sector so predictions are hard to make".

Chief Executive Officer, Simon Buckingham, made the following statement:

"Revenues in the first quarter of the new financial year grew by approximately one third compared with the same three month calendar period last year (excluding the impact of discontinued Zoombak services).

Furthermore, the majority of the Company's revenues are now generated from recurrent subscription relationships rather than one-off transactions, increasing the predictability of future results.

There has been a continuation of the trends seen last financial year with mobile internet revenues continuing to grow whilst revenues from mobile operators have remained broadly flat, reflecting a shift in consumer behaviour which the Company anticipated and prepared for.

Mobile Streams has continued to invest in improving the Appitalism.com consumer service, with a new simplified web interface having just recently been launched.

Appitalism has been nominated as the best app store at the Mobile Entertainment Awards to be held next week, along with the likes of Apple, Amazon and Nokia.

A steady stream of new apps deals and launches of apps services in partnership with mobile phone operators and other mobile and marketing companies has continued".

Enquires:

Mobile Streams                                                                     [phone]

Simon Buckingham, Chief Executive Officer

Gabriel Margent, Chief Financial Officer

PR Contact                                                                            [phone]

Victoria Tayler, Global Communications Manager

Nominated Adviser

Grant Thornton UK LLP                                                           [phone]

Philip Secrett

Broker

Singer Capital Markets Limited                                          [phone]

Jonathan Marren

Notes to Editors

About Mobile Streams

Mobile Streams retails and distributes mobile content globally and efficiently through the mobile internet superstorewww.Appitalism.com.

Mobile Streams operates subsidiaries in North America, Europe, Latin America and Asia and has approximately 50 employees.

For more information, please go to www.mobilestreams.com.  Follow Mobile Streams on Facebook (http://www.facebook.com/MobileStreams and Twitter(http://twitter.com/MobileStreams

 

END

 

 

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