Business
Half Yearly Report
Half Yearly Report.
About this update from Gana Media Group Plc
[{"type":"text","content":"\n \nRNS Number : 4571T Mobile Streams plc 30 March 2016 \n\nMobile Streams plc\n(\"Mobile Streams\", the \"Company\" or the \"Group\")\n(AIM: MOS)\n \nInterim results - in line with management's revised expectations\n \nMobile Streams plc (\"Mobile Streams\" or the \"Company\") (AIM: MOS) updates its shareholders on its unaudited interim results for the six months ended 31 December 2015. These were in line with management's expectations as set out in the Company's trading update on 22 January:\n \n· Revenues of £8.0m (£18.5m for the 6 months ended 31 December 2014). All revenue is from continuing operations;\n· Mobile Internet revenues were £7.9m (6 months ended 31 December 2014: £18.1m);\n· EBITDA* loss of £104k (6 months ended 31 December 2014: £313k profit);\n· Post-tax loss of £321k (6 months to 31 December 2014: £302k loss); and\n· £1.5m of cash and cash equivalents at 31 December 2015 (31 December 2014: £3.2m), with no debt. The company´s current cash balance is £ 1.4m.\n \n* Earnings before interest, tax, depreciation, amortisation and share compensation (\"EBITDA\") is a non IFRS measure which the Group uses to assess its performance. It is defined as earnings before interest, tax, depreciation, amortisation and share compensation.\n \nCommenting, Simon Buckingham, CEO of Mobile Streams said: \"The Company has been focused on stabilising its Latin American operations in Argentina, Mexico, Colombia and Brazil. Additionally, Mobile Streams has been working to launch and grow its operations in India. Whilst still at an early stage, operations in India are proceeding along the expected lines, and the Company remains excited about the potential for this market as well as its ad funded services.\" \n \nDuring the period under review, and subsequently, the Company has continued to deliver its strategy of launching subscription based and ad-funded Mobile Internet services in emerging markets.\n \nIn India, the Company's local subsidiary, Mobile Streams India Private Limited, has launched subscription services with billing connectivity for the three largest local mobile phone operators, reaching a potential billable aud...