MPM.L Regulatory News (MPM)

MoPowered Group plc

('MoPowered' or the 'Group')

PRE-CLOSE TRADING UPDATE - YEAR ENDED 31 DECEMBER 2013

Another year of growth for MoPowered as it builds on its leading position in the mobile commerce market.

MoPowered, the mobile commerce specialist, today publishes the following trading update for the year ended 31 December 2013.

As indicated at the time of MoPowered's admission to AIM ("Admission"), the Group has completed a record year for new client acquisition as increasing numbers of online businesses look to strengthen their mobile commerce offerings to their clients. The Group finished the year with 127 contracted clients, a significant increased from the 100 announced on 6 November 2013.

In line with expectation trading revenues are expected to be in excess of £1 million, 33% higher than in 2012. Expected gross margin is lower than planned but this is offset by other cost savings.

Since Admission, MoPowered has successfully recruited a Sales Director (previously from Useablenet) and a Chief Product Officer (previously from Google). These appointments will strengthen further the management team and will put the Group in a strong position to win new customer accounts, particularly in MoPowered's middle-market and to further develop its technology platform. Platform enhancements will allow us to continue to drive down the marginal costs of launching a mobile system for a client and therefore increase gross margin.

The successful fundraising of £4 million and admission to AIM in December 2013 has meant that the Group starts 2014 in a position to accelerate its rate of new customer acquisition and revenue growth. Encouraging external data emerging from the online retail markets over the Christmas period leads the board to believe that demand for the Group's services will remain strong in 2014. 

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