Business
Trading Update and Directorat
Trading Update and Directorat.
About this update from Gana Media Group Plc
[{"type":"text","content":"\n RNS Number : 9824V Mobile Streams plc 21 July 2009 \n \n \n21 July 2009\n\nMobile Streams Plc (the 'Company')\n\nTrading Update and Directorate Change\n\nMobile Streams Plc ('Mobile Streams' or 'the Company') announces a trading update ahead of its 2009 interim results release on 22nd September 2009.\n\nDuring the first half of 2009, the Company generated a small trading profit*, in line with the performance of the same period last year. First half revenues were slightly down compared to the second half of 2008 and fell by approximately 23% from the same period of last year as the expected restructuring of the mobile content business continued, with the shift from mobile operator services to mobile internet services. Mobile internet services contributed approximately 9% of the Company's revenue in H1.\n\nIn the first half of the year, Mobile Streams made considerable progress in launching new mobile internet services, with profitability achieved for the first time from the UK services, combined with several new launches and progress made in the Company's other key markets. The Company is pleased with the initial results achieved from its mobile internet launches in markets such as Argentina. Mobile Streams sees considerable new opportunities for mobile content services as the market evolves given its strong relationships with operators for billing and distribution and comprehensive content library, coupled with proprietary technology and global footprint. The Company is exploring new mobile internet opportunities for smartphone platforms such as the Apple iPhone and Google Android.\n\nCash balances at 30 June 2009 were £2.1m; compared to £2.3m at the midpoint of 2008.\n\n*Trading profit is calculated as earnings before interest, tax, amortization, depreciation, share based compensation and asset impairments/revaluations.\n\nThe Company also announces today that James Colquhoun, Finance Director, is resigning with effect from 1 September ...