16th Dec 2020 11:29
Mobile Streams PLC - mobile content and data intelligence company headquartered in London - For the year to the end of June, pretax loss widens to GBP1.6 million from GBP565,000 the year before, on revenue that falls by 52% year-on-year to GBP636,000 from GBP1.3 million.
The weaker performance is attributed to extremely challenging conditions in Argentina, as a result of the general market environment and regulation for mobile content subscriptions. Declining results also in India due to policy changes from one key partner and lower revenue from another.
Looking ahead, expects continued growth from Stream Data business in 2021 as marketing campaigns in October and November start to bear fruit, and customer numbers grow ahead of expectations.
Also, Mobile Streams signs partnership with Chinese digital communications agency ANOTHER_, for the provision of digital services and introductions to potential clients.
Initial focus will be on Chinese firms which find it challenging to access content and data on Western social media, and is looking to market their services to customers in the region. Mobile Streams expects to launch its service in China by March 2021.
Current stock price: 0.24 pence, down 9.6% on Wednesday
Year-to-date change: up 71%
By Dayo Laniyan; [email protected]
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