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15 Mar 2021 | 10:49

First half revenues narrow slightly for Mobile Streams

(Sharecast News) - Mobile data and intelligence company Mobile Streams reported unaudited revenues of £0.2m in its first half on Monday, all from continuing operations, falling from £0.3m in the first half of the prior year. The AIM-traded firm's operating loss was in line with the prior year at £0.36m, while basic and diluted losses per share narrowed to 0.03p from 0.23p.

It said it had £1.1m of cash and cash equivalents at period end on 31 December, rising from £0.2m a year earlier, with no non-current debt.

Since the end of the first half, Mobile Streams said it had £0.9m of cash and cash equivalents as at 12 March, with no debt.

Its business-to-business data insight and intelligence platform Streams had monthly revenues now exceeding the net revenue produced by the legacy business, the board reported.

The company also noted that the Streams Data Chinese language website was launched in March.

Mobile Streams said its legacy mobile business was performing at a stable level, meanwhile, in line with its internal expectations.

"We are delighted with the performance of the Streams Data business to date," said non-executive director Nigel Burton.

"We are seeing ongoing revenue and customer growth for this business and hope to see this trend continue throughout 2021."

At 1029 GMT, shares in Mobile Streams were down 2.86% at 0.24p.
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