By Elena Vardon
Mobile Streams PLC said Friday that its full-year pretax loss widened due to higher costs despite its revenue being boosted by new product and services marketing.
The mobile-content and data-intelligence company said its pretax loss for the year to June 30 was 2.8 million pounds ($3.4 million), which was weighed down by administrative expenses and GBP1.2 million in non-recurring charges such as provisions against bad debts and impairment charges linked to acquired assets. This compares with a loss of GBP1.0 million in the comparable period the previous year.
Revenue was GBP1.0 million, up from GBP395,000.
In line with the previous year, the board did not propose a dividend.
“Current cash balances of GBP1.7 million and forecast cashflows are expected to cover the company’s working capital requirements for the foreseeable future,” Chairman Bob Moore said.
The group said separately that it is extending its partnership with International Gaming Systems–which brought in around GBP140,000 in revenue since its signature in January 2022–for a further six months from January 2023. It added that IGS has agreed to deliver a minimum of $900,000 in revenue to Mobile Systems over the half-year period.
Shares at 0810 GMT were flat at 0.12 pence.
Write to Elena Vardon at [email protected]
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