Outlook Comment in RNS25 Sep 2014 08:23
We are delighted with our performance during the first half of 2014, during which time we achieved strong growth in revenues and profits. In addition, we successfully renegotiated payment terms with our largest client, PT Nextnation Prisma, such that our long-term receivables continue to be reduced.
Our core Telco business remains strong and Yoomob generated revenues of approximately £1.96m for July and August 2014 combined.
Post the period end we announced the acquisition of Maaduu which, in-line with our strategy, will enable us to realign our portfolio of content toward high demand Korean drama and music. The acquisition also expands our customer base, will enable us to exploit advertising revenue streams and is expected to provide a number of business synergies going forward.
In addition, we successfully launched our OTT service offering during the period, which we believe will benefit greatly from our recently announced partnership with Fortumo, enabling customers to pay us directly for content via their mobile phones.
These positive strategic developments, combined with the continuing growth of our core business post period end, enable us to look to the future with confidence.
Jamal Hassim
Chief Executive