LONDON (Alliance News) - Mobile Streams PLC said Tuesday that it is continuing to work towards launching its mobile internet services in targeted emerging markets Brazil, India and Nigeria, as it expects a fall in revenue for its recently ended financial year.
The company expects to post earnings before interest, tax, depreciation, amortisation and share-based compensation in line with market expectations for the year to end-June, on revenue of around GBP29 million, down from GBP48.6 million a year before.
Mobile Streams, which provides mobile media, has faced challenging conditions in its core business in Argentina following the sudden devaluation of the Argentinian peso in January 2014.
It has been investing in developing its services for emerging markets over the last few months and has already launched its products in Brazil.
Additionally, Mobile Streams is working to update its mobile content product portfolio to launch new products like browser based games and high definition video streaming, and developing new advertising supported services in the games and social networking spaces.
The company will announce its full-year results in October.
Shares in Mobile Streams are trading up 15% at 5.90 pence Tuesday morning.
By Hana Stewart-Smith; hanassmith@alliancenews.com; @HanaSSAllNews
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Mobile Streams (MOS)