28th Jun 2016 11:28
LONDON (Alliance News) - Messaging International PLC reported a narrowed pretax loss for 2015 on lower impairment costs, as it continued to progress its secure mobile messaging products.
The company reported a pretax loss of GBP274,309 for 2015, slashed from a loss of GBP2.9 million in 2014, as a small decline in revenue to GBP3.5 million from GBP3.6 million was offset by a lower goodwill impairment.
In 2014, Messaging International recorded a goodwill impairment of GBP2.6 million.
The company said it is continuing to transition from its legacy text-to-landline product to a new secure mobile messaging product. During the period the company inked a partnership with North American mobile operator Sprint Corp for Sprint to sell Messaging International's secure mobile messaging product.
Sprint launched the Messaging International product this month, Messaging International said.
"TeleMessage has made considerable progress with its secure mobile messaging solution and other enterprise solutions. As of June 2016 we have already in excess of 20,000 paying users and is proof of the relevance of these solutions in the market. The users are from enterprises located in North America, Europe and Israel. We are also very excited with our strategic partnership with Sprint," the company said in a statement.
Shares in Messaging International were up 7.7% at 0.350 pence Tuesday.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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