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Mobile Streams PLC - London-based mobile content provider - Posts a pretax loss of GBP640,000 in the six months to December 31, widened from a GBP353,000 loss a year prior. Blames this on administrative expenses that increased 41% to GBP595,000 from GBP422,000 and selling & marketing costs that multiplied to GBP157,000 from GBP30,000. Further, impairment costs of GBP95,000 that did not occur in the last period. Records revenue growth of 60% to GBP281,000 from GBP176,000. Credits the growth to significant contract wins, new partnerships and its new content businesses.
Expects the current trend of revenue and customer growth to continue throughout 2022.
Separately, Mobile Streams says it exercised its option to buy the remaining 51% interest in KrunchData Ltd for GBP765,000. The payment will consist of GBP265,000 cash and 166.7 million shares in Mobile Streams at 0.30p each.
The Hong-Kong-based software development company generated revenue of GBP397,000 and a net loss of GBP85,000 in 2021. In March 2021, Mobile Streams bought 49% of the business for GBP735,000.
Current stock price: 0.29 pence
12-month change: down 9.2%
By Abby Amoakuh; abbyamoakuh@alliancenews.com
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