Trading Statement

RNS Number : 9940J

Mobile Streams plc

24 July 2013

 



24th July 2013

Mobile Streams plc

("Mobile Streams" or the "Company")

Full Year Trading Update

Mobile Streams PLC (AIM: MOS), the global mobile media company, is pleased to provide an update to its shareholders on its unaudited expected financial and business performance for the 12 months ended 30 June 2013:

-           Revenues of more than £50m (compared to £22m for the 12 months ended 30 June 2012). All revenues are from continuing operations and include no exceptional items.

-           Significantly increased EBITDA* (compared to £2.0m for the 12 months ended 30 June 2012).

-           Increase in profit after tax and EPS (compared to £0.7m and 2.12 pence per share for the 12 months ended 30 June 2012).

-           Cash of £2.85m at June 2013, with no debt (compared to £1.76m of cash as at 30 June 2012). More than 73% of the Company's cash is in Argentina whose government, as previously reported, imposed currency controls at the beginning of 2012, which continue to inhibit the repatriation of funds to the parent Company. It is worth noting that a delayed collection of £2.3m in Argentina is expected to increase the cash balance to more than £4.5m at the beginning of August.

-           Mobile Internet subscribers nearly doubled to 3.41m active subscribers (compared to 1.75m million at end June 2012).

*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 continued to enjoy record growth in revenues and profits for the most recent financial year, driven primarily by Argentina, Mexico and Colombia. We achieved another new new milestone in exceeding £50m in revenues for the year. Whilst Latin America has continued to grow strongly, we are pleased that we have also successfully leveraged our Appitalism (http://www.appitalism.com) expertise and market positioning and recently won new apps business in Asia Pacific with the recently announced Optus App Store deal and also launched apps services in partnership to market and distribute Appitalism with a major U.S. carrier which has immediately become our largest revenue generator for the North America region.

Mobile Streams enters the new financial year which started on 1^st July 2013 with strong momentum and a clear focus on continuing to expand its operating base in Latin America and on open mobile Internet services including Appitalism for apps and games. The Company expects to see Brazil contribute to the new financial year upon the expected imminent launch of Mobile Internet services in that market. The Company's management remains upbeat for the new financial year, in which revenue is once again expected to be largely generated in Latin America in markets such as Argentina, Brazil, Colombia and Mexico. The Company has now completed the process of relocating its global finance function including our new CFO Gaston Cerf in Argentina.

We are excited with the Company's positioning and opportunities 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. We expect to report our audited year-end results in the next few months. We have just redesigned our corporate website http://www.mobilestreams.com if shareholders would like to take a look at the updated website."

Enquires:

Mobile Streams

Simon Buckingham, CEO, [phone]

Gaston Cerf, CFO, [phone]

Nominated Adviser and Broker

N+1 Singer [phone]

Jonny Franklin-Adams

 

END

 

 

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