Business
Post-close trading update; Investor Q&A facility
Post-close trading update; Investor Q&A facility.
About this update from Gana Media Group Plc
[{"type":"text","content":"\n \n \n RNS Number : 2823V\n Mobile Streams plc\n 06 August 2020\n \n \n \n \n 6 August 2020\n \n \n \n \n \n Mobile Streams plc\n \n \n (\"MOS\" or \"the Company\")\n \n \n \n \n \n Post-close trading update; Investor Q&A facility\n \n \n \n \n \n \n Mobile Streams plc, the AIM quoted mobile content and data intelligence company, is pleased to provide a trading update following the year ended 30 June 2020.\n \n \n \n \n \n \n The year to 30 June 2020 saw significant change for your Company, with a new Board and Senior Management team, new advisers, placings in November, April and May, and the launch of the Streams data intelligence business. The Company has progressed from a state of near collapse with plans to de-list last September to being well funded and with clear, positive growth plans driven by its new leadership team.\n \n \n \n \n \n \n \n Trading results to 30 June 2020\n \n \n \n \n \n Content Business\n \n \n Unaudited management accounts show that revenues from the legacy mobile content business declined from £1,335k in 2019 to approximately £470k, with net revenues after payments to carriers declining from £501k to approximately £110k. Despite these expected results, largely due to lack of investment in previous years, the Company retains long established relationships with several leading carriers and is reviewing whether to make additional investment in the content business. The Company made significant cuts to its cost base and therefore, despite the significant drop in both revenues and contribution from the content business, it expects to report an overall EBITDA loss for the existing business (ie after all Group costs other than those of the Data Business as described below) similar to the £666k reported for 2019.\n \n \n \n \n \n Data Business\n \n \n As previously announced, the Company's 'Streams' platform and services were launched in April, with the first commercial agreement signed with the National Emergencies Trust (\"NET\") in April, and two further clients (Orckid, a digital product and brand development agency within the Selbey Anderson Group and the Education division of The Economist Group) signed in June. Given the timing of the launch, Streams revenues in the year to 30 June only included those generated by the NET contract in that month, an...