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Mobile Streams' results to be in line

Mobile Streams has been shifting its emphasis away from Argentina since the devaluation of the peso in January 2014. Things are on the up in Brazil, while India and Nigeria are taxiing on the runway.
In Brazil, the company's subscriber base passed 50,000 active subscribers

Mobile media company Mobile Streams (LON:MOS) expects to announce a full-year result in line with market expectations, despite a tough year for its Argentinian operations.

The company has already alerted the market to expect a sizeable decline in revenues, so the projected fall to a figure around £29mln in the year to the end of June from £48.6mln the year before should not come as a surprise.

“Our core business based in Argentina has been challenging and in transition since the currency devaluation there in January 2014,” noted Simon Buckingham, chief executive officer of Mobile Streams.

Mobile Streams ended the year free of debt with £2.9mln in cash, down from £3.2mln at the end of June 2014.

“We continue to diligently work to launch our mobile Internet services in our principle target emerging markets of Brazil, India and Nigeria. These markets have been selected based on their size and market potential. We have been investing in developing our services in these markets for the past several months. We have already launched in Brazil and are working to launch in India and Nigeria,” revealed Buckingham.

The company boss went on to say the company updated its mobile content product portfolio in the financial year just ended, launching new premium products such as browser-based games and high definition video streaming.

Buckingham said the premium products are higher margin and score more highly on the customer satisfaction scale than the company’s standard products.

Mobile Streams is also looking to broaden its sources of revenue by launching new advertising-supported services in the games and social networking markets.

“These ad-supported services are free for consumers to use, and are monetised by advertising. By offering both premium and ad-supported services, we can address more emerging market consumers,” Buckingham said.

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