AGM Statement/Trading Update1 Jul 2014 12:49
interesting comparison (not perfect...and perhaps unfair..but so many other opportunities on the go!!)
...less than a month apart...
..."encouraging so far" (June) to "growth in the Group's recurring revenues, and therefore revenues as a whole, will be more modest than had been expected for 2014 and beyond" (this morning)
AGM Statement (extract)
"To this end we continue to improve and increase the Group's sales and marketing reach. This investment has resulted in our ongoing growth and our expansion to well over 100 active clients, including previously announced wins this year such as Atterley Road and Romans Original. Retailers have continued to be attracted to MoPowered and in recent days, the top-end beauty brand, Urban Retreat, and one of the largest online fishing equipment retailers, Tackle Discounts, have chosen to sign with the Group to provide their customers best-in-breed mobile-friendly websites.
As part of our plans to support our ambitious growth trajectory, we have recently made a number of key senior hires in the sales team. These include a Head of Account Management; a Channel Manager with experience of developing relationships with companies like PayPal and Magento; and a Senior Sales Engineer with strong mobile experience. The recruitment market for talented technical and commercial resources remains highly competitive so we are pleased to continue to attract new talent to MoPowered.
Additionally we continue to make improvements in the underlying technologies within our Software-as-a-Service platform that will further improve the customer experience and performance of MoPowered's mobile websites and apps, thereby strengthening our proposition. The uptake on MoPowered Professional, which was recently launched, has been encouraging so far."
Trading Update (extract)
"After a strong first quarter, some of the larger deals which the Group had expected to complete in the second quarter of 2014 have now slipped into the second half of the year which will impact the expected results for 2014 as a whole. As previously announced, the rate of launching live mobile sites for smaller SME customers has been lower than expected due to operational constraints and challenges in acquiring these customers cost-efficiently . Consequently, growth in the Group's recurring revenues, and therefore revenues as a whole, will be more modest than had been expected for 2014 and beyond."