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29 Mar 2019 | 08:07

Mobile Streams posts first-half loss as revenue sinks

Mobile phone marketing group Mobile Streams posted a first-half loss after its sales more than halved.

Pre-tax losses for the six months through December amounted to £299k, compared to losses of £568k on-year.

Revenue from continuing operations fell to £0.9m, down from £1.8m.

'Progress in India remained steady over the recent period as the market settles in response to the consolidation amongst the mobile telecom operators,' chief executive Simon Buckingham said.

'Since tighter marketing regulations were imposed, revenue targets have continued to be impacted.'

'Looking ahead to the rest of 2019, we anticipate increased performance from our relationship with the newest entrant to the Indian telecom market, however, investment is on hold with Airtel, our leading partner.'

'In Argentina, trading has been steady in 2019, whilst operations in Indonesia have been delayed until the latter half of the calendar year.'

At 8:07am: (LON:MOS) Mobile Streams PLC share price was -0.1p at 0.28p

Story provided by StockMarketWire.com
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