20th Jan 2015 08:22
LONDON (Alliance News) - Mobile marketing company CDialogues PLC on Tuesday said its 2014 trading was in line with market expectations, sending its shares higher in early trade.
CDialogues said it maintained the momentum reported in the first half in the second half and expects its revenue for the year to December 31 to more than double to EUR9.5 million.
The rise in revenue will come in spite of the group ceasing operations in Iraq in the fourth quarter. It said the loss of revenue from its withdrawal from Iraq is being more than offset by projects in other markets.
The group expects its full-year earnings before income, taxation, depreciation and amortisation to be up by around 70% on the year to EUR2.7 million, adding its free cash flow for the year was around EUR1.1 million, leaving it with a EUR2.4 million cash position at year-end.
Over the year, the group provided mobile marketing services to a subscriber base of 35 million customers, up from 15 million the year before.
For 2015, the company said it is confident on its outlook as subscription-based recurring revenue accounted for more than 75% of its total revenue in 2014, giving it strong visibility for the coming year.
Shares in the company rose 13% to 280.00 pence in early trade, one of the best performers in the AIM All-Share index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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