Last checked at 9 Nov 2015 13:51
Mobile Streams plc
("Mobile Streams", the "Company" or the "Group")
(AIM: MOS)
Trading update
Mobile Streams plc ("Mobile Streams" or the "Company") announces the following trading update.
Since the beginning of the current financial year, trading in the Company's Argentine core market has continued to be challenging with the result that the board of Mobile Streams (the "Board") anticipates that Group revenues for the first half of the current year will be around half of those for equivalent six month period in the preceding financial year. At present the Board does not have visibility as to whether this trend will continue during the second half of the current financial year and further announcements will be made at the appropriate time. Notwithstanding this reduction, the Board is continuing to implement cost reduction measures with a view to maintaining the Group's EBITDA for the current financial year at around breakeven.
Looking forward, the Company is beginning to see some progress with more than 40% of the Company's overall Argentine subscriber base now paying for premium subscriptions which carry around double the margin as compared with its traditional standard subscription products. Around 90% of all new subscription acquisitions in Argentina are now premium subscribers and the Board anticipates that this premium percentage will increase.
The Company will make a further update on progress in markets other than Argentina at its AGM on the 17 November 2015.
Enquires:
Mobile Streams | |
Simon Buckingham, Chief Executive Officer | +1 646 812 4749 |
Enrique Benasso, Chief Financial Officer | |
N+1 Singer (Nominated Adviser and Broker) | |
Nic Hellyer | +44 20 7496 3000 |
Alex Price | |