Mobile Streams Inks Two Contracts, "Modest" Revenue Initially Expected

(Alliance News) - Mobile Streams PLC on Monday said it has signed two contracts to be delivered via its KrunchData partnership, although only modest revenue is initially expected from these.

Shares in Mobile streams were down 18% in London, where the company is headquartered, at 0.27 pence each in late morning trading on Monday.

The mobile content and data intelligence firm said the contracts had been signed by its Streams data intelligence business and involve "delivery of data insight, intelligence and visualisation services using the Streams platform".

One contract is with digital product and brand development agency Orckid, part of Selbey Anderson Group, while the other is with the Economist Group's Edication division.

Chair Nigel Burton said: "Despite the disruption caused by the effects of the Covid-19 pandemic, we have continued to engage with both existing and potential new clients. Whilst the revenues expected from these two contracts may initially be modest, we are pleased to be demonstrating new client appetite for our proposition as we look to grow this second revenue stream for the company. We have issued initial invoices for the Streams service, and in addition to the two new contracts announced today expect to sign further contracts in the coming months.

"To enable us to accelerate growth we have appointed Richard Brinkman as business development director (a non-board role), and we look forward to developing the product and sales pipeline further."

By Anna Farley; annafarley@alliancenews.com

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