Trading Update

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 £14.5m, compared to £5m in the third quarter of 2011/2012

-     Mobile Internet revenues of £13.5m, compared to £3.8m 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 £3.4m at the end of March 2013 (31 December 2012: £2.0m), of which £2.9m was held in Argentina. At the end of the third quarter of 2011/2012, cash was £1.4m, of which £1.2m 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                                                                         [phone]

Simon Buckingham, Chief Executive Officer

Nominated Adviser and Broker

N+1 Singer                                                                                [phone]

Jonny Franklin-Adams/ Matt Thomas

 

END

 

 

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