NPT.L Regulatory News (NPT)

15 Apr 2005 14:45

Stream Group PLC15 April 2005 15 April 2005 STREAM GROUP PLC ('Stream' or the 'Group') Stream, the provider of content and applications via mobile and fixed linetelephony, announces that all resolutions put before shareholders at the annualgeneral meeting, held today, were passed. Speaking at the meeting, Gordon Robson, Chairman of Stream, made the followingstatement: I am pleased to report that following the announcement of our full year resultsin February 2005, when we reported a 73% increase in profit before tax to £1.9m,current trading is in line with expectations. We are firmly focused on our strategy of becoming an integral part of theemerging global mobile marketplace whilst building on our successful position asa leading provider of mobile entertainment services. Stream's unique blend offirst rate technical expertise coupled with strong long term experience ofmarketing telephony services enables us to achieve this goal. Stream has recently entered the US market which is currently behind Europe inmobile content and applications, but which offers a huge opportunity forcommercial success as the market develops. Our view is that the optimum approachto the US market is initially to work with local partners. This strategy enablesus to rapidly establish a significant position in the US market whilst learningabout the territory on a low risk basis. We are successfully forming strongrelationships in the US media sector including the Fox television show "AmericanIdol", and we hope to announce further relationships in the near future. Mobile gaming is considered to be an area which will form a very significantpart of the future mobile industry. Stream has the technical expertise in-houseto work with major operators in this sector and is currently developing gamesfor Ladbrokes which will be branded and promoted by Ladbrokes. We considermobile gaming to be a key part of our strategy moving forward and willincreasingly focus on this sector as it emerges, working both with key gamingindustry partners and marketing our own games directly to consumers. Our acquisition of MChex in January this year was the first significant move byStream in establishing a long term position in the mobile world. Mobile bankingis already well established in the highly developed Far East markets of SouthKorea and Japan and is forecast to be one of the leading future mobile servicesto be used by UK consumers. Our exclusive contract with MobileATM, wherebyStream earns a commission on transactions, ensures that Stream will be anintegral part of mobile banking future.In my statement at last year's Annual General Meeting, I said that "Stream willbe at the forefront of the industry with both innovative applications and massmarket content". The strong progress the Group has made during the last twelvemonths demonstrates that we are very much on course to achieve this goal. ENDS Contacts: Stream Group plc Tel: 020 7725 0300Gordon Robson, Executive ChairmanPat Greene, Finance Director FlagshipSusie Pagan Tel: 020 7886 8451 This information is provided by RNS The company news service from the London Stock Exchange