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Trading statements

Mobile Streams EBITDA to be materially lower than expected

28 September 2017 08:54

Mobile Streams, an emerging markets focused mobile media company, has warned that it expects revenue and EBITDA for the current financial year to be materially lower than current market expectations.

Difficult trading in Argentina, as a result of general market conditions and regulation in the local market for mobile content subscriptions, have continued into the current financial year.

Mobile Streams said it expects revenues from the region will continue their reduction, but that this will be gradual and manageable over time on account of its strong relationship with its carrier billing partner in Argentina. In India, consolidation activity has taken place among the local mobile carriers with new market entrants disrupting the previous status quo and attracting customers through aggressive promotion of reduced cost data plans.

Mobile Streams said it is working to secure agreement with these new market entrants but this takes time.

Coupled with certain revenue policy changes made by one of the company's key regional partners, trading in India has been more challenging than the company had previously anticipated.

At the same time the company has experienced issues with lower than expected returns from monetising some subscribers to its MobileGaming.com service on account of those subscribers being unable to pay for the company's services because of low or zero balances in their pre-pay mobile account.

At 8:54am: (LON:MOS) Mobile Streams PLC share price was -1.58p at 1.8p

Story provided by StockMarketWire.com

Related Company: MOS

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