Bango Regulatory News (BGO)

20 Apr 2007 07:01

Bango PLC20 April 2007 BANGO PLC ("Bango" or "the Company") Trading Update for 12 months ending 31st March 2007 Bango (AIM:BGO) is pleased to announce a trading update for its financial yearended 31st March 2007, prior to the announcement of its full year (FY07) resultson 12th June 2007. Total revenues for the year are expected to be in excess of £10.3m. (FY06:£7.5m) Growth accelerated in the second half of the year, with revenue up 27% on1H FY07. (Up 35% on 2H FY06) The increasing emphasis on leveraging the Company's technology and partnershipsto reduce selling and marketing costs is proving effective. Monthly operatingexpenses in March 2007 were down 25% compared with monthly levels in the quarterending September 2006. The loss for the year is expected to be in line with analysts' expectations atabout £2.8m (excluding share option costs). "Revenue growth in the UK accelerated after a slowing in the summer of 2006 andrevenues outside the UK showed continued strong growth," said Ray Anderson, CEO."Our sales pipeline continues to expand and signup rates are encouraging. Ourfocus on improving sales productivity by supporting our partners, sharing bestpractice between territories, and broadening our product range to address theneeds of the mobile internet market is translating into good progress." "Bango's board is pleased with the progress in the second half and is building aplatform for further growth based on its recurring revenue model," added LindsayBury, Chairman. Contact Details: Bango plc ICIS Limited Panmure Gordon & CoTel. +44 1223 472777 Tel. +44 20 7651 8688 Tel. +44 20 7459 3600Ray Anderson, CEO Tom Moriarty Aubrey PowellPeter Saxton, CFO Caroline Evans-Jones Stuart Gledhill This information is provided by RNS The company news service from the London Stock Exchange