Bango PLC
20 April 2007
BANGO PLC
('Bango' or 'the Company')
Trading Update for 12 months ending 31st March 2007
Bango (AIM:BGO) is pleased to announce a trading update for its financial year
ended 31st March 2007, prior to the announcement of its full year (FY07) results
on 12th June 2007.
Total revenues for the year are expected to be in excess of £10.3m. (FY06:
£7.5m) Growth accelerated in the second half of the year, with revenue up 27% on
1H FY07. (Up 35% on 2H FY06)
The increasing emphasis on leveraging the Company's technology and partnerships
to reduce selling and marketing costs is proving effective. Monthly operating
expenses in March 2007 were down 25% compared with monthly levels in the quarter
ending September 2006.
The loss for the year is expected to be in line with analysts' expectations at
about £2.8m (excluding share option costs).
'Revenue growth in the UK accelerated after a slowing in the summer of 2006 and
revenues outside the UK showed continued strong growth,' said Ray Anderson, CEO.
'Our sales pipeline continues to expand and signup rates are encouraging. Our
focus on improving sales productivity by supporting our partners, sharing best
practice between territories, and broadening our product range to address the
needs of the mobile internet market is translating into good progress.'
'Bango's board is pleased with the progress in the second half and is building a
platform for further growth based on its recurring revenue model,' added Lindsay
Bury, Chairman.
Contact Details:
Bango plc ICIS Limited Panmure Gordon & Co
Tel. +44 1223 472777 Tel. +44 20 7651 8688 Tel. +44 20 7459 3600
Ray Anderson, CEO Tom Moriarty Aubrey Powell
Peter Saxton, CFO Caroline Evans-Jones Stuart Gledhill
This information is provided by RNS
The company news service from the London Stock Exchange
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