MIRA.L Regulatory News (MIRA)

16 Jun 2005 14:16

Yoomedia PLC16 June 2005 For immediate release16 June 2005 YooMedia PLC ("YooMedia" or the "Company") Trading Update Yoomedia plc today announces that, whilst significant progress has been madesince the acquisition of DITG at the end of 2004, and strong performances havebeen achieved by a number of its business divisions, Yoomedia's Games & Gamblingdivision has experienced lower than expected profit growth, leading to arevision of the forecast outcome for the full year. As a result the Directorsbelieve that the results for the year ending 31 December 2005 will besignificantly lower than the Directors had originally anticipated. Overall, the Company achieved its initial objective of EBITDA break-even inMarch this year and has continued to be EBITDA positive. The Directors believethat the Company will be cash flow positive during the third quarter of thisfinancial year. Under the Company's banking arrangements, the Chairman hasagreed to replace a guarantee over an element of the facilities previouslyprovided by a former chairman and director of DITG. The Company announced the appointment of Neil MacDonald as Group ManagingDirector last week. Alongside the other directors, he will be focusing effortson the core business streams and key growth initiatives. Yoomedia operates inseveral high growth markets and will be announcing and launching a range of newofferings in these during the second half of 2005. Particular emphasis will beon new gambling and dating services for the latest generation of digital TV andmobile phone networks and new interactive TV formats. Enquiries YooMedia plc Michael Sinclair/Neil MacDonald 020 7462 0870 Powerscourt PR John Murray/Kirsty Black 020 7236 5615 This information is provided by RNS The company news service from the London Stock Exchange