Business
Half Yearly Report
Half Yearly Report.
About this update from Crimson Tide Plc
RNS Number : 1309P Crimson Tide PLC 29 September 2011 Crimson Tide plc ("Crimson Tide" or "the Company") Interim Results for the six months ended 30 June 2011 Crimson Tide, a leading service provider of mobile data solutions for business, (AIM: TIDE.L) is pleased to announce its unaudited interim results for the six months ended 30 June 2011. Highlights · Revenue improved to £752k (H1 2010: £733k) · Profitable first half performance and well placed for H2 · Cash balance of over £400k and minimal debt · Subscriber numbers in core business up 32% · mpro Gemini now available on Apple's iOS platform · Strong pipeline of significant new business leads Barrie Whipp, Executive Chairman, commented; "Against a backdrop where overall economic conditions have remained challenging we are pleased to have continued to be profitable in the first half of the year on increased revenue. New deals have taken longer to negotiate and ultimately finalise but this is reflective of larger size transactions with larger organisations, which are by their nature more complex." "Importantly, the long-term contracted subscriber base in our core mobile applications business has grown by 32% as we continue our focus away from software and consultancy. With our recent investments in products and marketing, healthy cash balances and a strong pipeline of significant new business opportunities, the Board remains confident of continued growth." Enquiries: Crimson Tide plc Barrie Whipp, Executive Chairman Stephen Goodwin, Chief Executive 01892 542444 W.H. Ireland Limited James Joyce / Chris Fielding 020 7220 1666 Threadneedle Communications Josh Royston / Alex White 020 7653 9850 Chairman's Statement I am pleased to report the Company's interim results for the period to 30 June 2011, which show Turnover of £752k and a Profit Before Tax of £6k, in line with expectations. The financi...