Business
Update on Full Year Results
Update on Full Year Results.
About this update from Gana Media Group Plc
[{"type":"text","content":"\n \nRNS Number : 5537S Mobile Streams plc 25 September 2014 \n \n\nUpdate on Full Year Audited Results\n \n25th September 2014\n \nMobile Streams plc (\"Mobile Streams\" or the \"Company\") expects to release its full annual audited accounts and report in early October 2014. Additionally, the Company plans to hold its Annual General Meeting on 4th November 2014 in London and will make a further detailed announcement regarding the meeting for shareholders shortly.\n \nAudited revenues for the financial year ended June 2014 will be £48.5m. However, audited EBITDA (calculated as profit before tax, interest, amortisation, depreciation, share compensation expense and impairment of assets) will now be £740,000. \n \nThe auditors have conducted a detailed analysis on foreign exchange movements and the final numbers are based on circa £1m of foreign exchange losses. Of this exchange loss, a portion of the adjustment equates to a £240k cash item incurred when moving money out of Argentina earlier in the year. The majority of approximately £750k is a non-cash item caused by the revaluation of Argentina-based assets and liabilities into GBP as a result of that country's currency devaluation. The Company had approximately £3.2m in cash on hand at the end of August 2014, of which 17% is held in Argentina, with no debt. \n \nEnquires:\n \n\n\n\n\nMobile Streams\n\n\n\n\n\n\n\nSimon Buckingham, Chief Executive Officer\n\n\n+1 646 812 4749\n\n\n\n\nEnrique Benasso, Chief Financial Officer\n \n\n\n\n\n\n\n\nN+1 Singer (Nominated Adviser and Broker)\n\n\n+44 (0)20 7496 3000\n\n\n\n\nJonny Franklin-Adams\n\n\n\n\n\n\n\nRichard Salmond\n\n\n\n\n\n\n\n \n \n\nThis information is provided by RNSThe company news service from the London Stock Exchange END MSCBZLLLZKFFBBV\n ","length":4067,"tagName":"div"}]