Trading Statement

16 Jul 2007 07:00

Mobile Streams plc16 July 2007 Mobile Streams Plc Trading Statement Mobile Streams Plc ('Mobile Streams' or 'the Company') provides an update toshareholders ahead of the release of its half year 2007 results on 18thSeptember 2007. The Company's Platforms business has seen content owners continue to exploremobile media. During the period Mobile Streams has been selected as a mobiletechnology partner by major movie studios, music labels and TV productioncompanies, along with Zoombak, Liberty Media's mobile services subsidiary(formerly Connectid). Recent platform customer wins include Warner Music Groupin Latin America and Twentieth Century Fox International across the globe. Revenues in Europe have migrated from higher margin operator activities to lowermargin consumer business. This validated the Company's decision to invest inits Consumer business to develop the required new management expertise andfunctionality on the Ringtones.com mobile website as recently announced atwww.mobilestreams.com. As a result of these investments, Mobile Streams was forexample recently selected by Private Media Group as its exclusive globalprovider of its off-portal mobile services. The 6 month period ended 30 June 2007 saw revenue growth of around 25% comparedwith the same period of 2006. EBITDA* showed an improvement compared with theprior year EBITDA* loss of £0.3m. Cash balances as at 30 June 2007 were £2.5m,down from more than £4m at the start of the year. The reduction is dueprimarily to the investments made in the Company's technology platform and thedevelopment of the consumer business. Whilst the mobile content market remains very challenging and it remainsdifficult to accurately forecast the impact of the rapid change in the industry,Mobile Streams believes that it has the resources and expertise needed to adapt.The Board remains of the view that full year expectations are achievable butnot without their challenges. *Calculated as profit before tax, amortisation of goodwill, depreciation, sharecompensation expense and fund raising and floatation costs Enquires: Mobile Streams 020 7395 2000Simon Buckingham, Chief Executive OfficerJames Colquhoun, Chief Financial Officer Bridgewell Limited 020 7003 3000John CravenSimon Bridges About Mobile Streams Mobile Streams is a leading global provider of music, comedy and entertainmentcontent to mobile phones. The company's distribution platform, "Vuesia," is usedby some of the world's largest media groups and mobile phone networks includingVodafone and 3 in the UK, America Movil, Movistar and TIM in Latin America, Fidoand Rogers in Canada and Dobson in the US. "Vuesia" is Mobile Streams' full service enterprise mobile media managementsolution. "Vuesia" facilitates content ingestion, management, delivery, billingand reporting. Mobile Streams has subsidiaries in Germany, the US, Argentina, Brazil, Mexico,Chile, Colombia, Sydney and Singapore and has approximately 100 employees. For more information please go to www.mobilestreams.com This information is provided by RNS The company news service from the London Stock Exchange