INTQ.L Regulatory News (INTQ)

INTERNETQ plc

("InternetQ" or "the Company")

Trading Update

InternetQ, one of the leading providers of mobile marketing and digital entertainment solutions for mobile network operators and brands, today issues a trading update for the six months ended 30 June 2013.

InternetQ has maintained its strong performance over the last six months continuing its excellent track record of underlying revenue growth across all its business divisions. Organic revenues will once again increase in excess of 30% year on year. As such revenue and EBITDA are expected to be in line with market expectations for the six months ended 30 June 2013. InternetQ has focused on cash conversion and accordingly its balance sheet has strengthened since the Preliminary Results in April 2013. The Company generated improved levels of free cash flow resulting in a cash equivalent balance in excess of €8million at the half year and expects this trend to continue in the second half.

This strong performance has been driven by record levels of new business within InternetQ's mobile marketing division (MobiDialogue) and increased levels of subscriber growth from Akazoo. InternetQ's mobile app proposition, Minimob, continues to receive strong support from developers and media brands and remains well placed to expand its market offering in the current year. Minimob has already had 16 million Software Development Kit installations since launch and is currently achieving over 200,000 new installations a day.

In addition to reporting this strong performance for the first half, InternetQ announced on 2 July the successful placing £10m and the conditional acquisition of Atlas Germany ('Atlas'). 

The acquisition of Atlas, a leader in access, billing and digital content distribution, providing services in more than 120 countries and connecting with more than 300 Mobile Network Operators ("MNOs") worldwide will enable InternetQ to accelerate the roll out of both Akazoo and Minimob whilst reinforcing its leading mobile marketing presence globally. The acquisition is expected to be earnings enhancing in its first full year.

InternetQ will today be holding a Capital Markets day at the offices of Buchanan, 107 Cheapside at 14.00pm. If you'd like to register your attendance please contact Buchanan.

Interim results for the six months ended 30 June 2013 will be announced on 30 September 2013.

For further details