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Mobile Streams PLC makes progress in India

Mobile Streams has has launched now in India with billing connectivity for the three largest local mobile phone operators.

Mobile Streams is broadening where it operates

Mobile Streams Plc (LON:MOS) remains excited about its prospects in India as it switches away from Argentina.

Simon Buckingham, chief executive, said the focus had been on stabilising the Latin America operations but it has launched now in India with billing connectivity for the three largest local mobile phone operators.

This is a potential audience of 600mln local mobile phone users with discussions under way for access to more mobile billing connections.

Mobile Streams offers daily, weekly and monthly subscriptions at various price points. 

Elsewhere, the ad-funded MobileGaming.com service has been expanded into Mexico and is scheduled to launch in Colombia and Brazil shortly. The service is already running in India, Argentina and the US.

As already flagged, revenues in the half year to December were £8mln (£18.5mln) while net losses rose slightly to £321,000 (£302,000). Cash currently is £1.4mln.

Mobile added the Argentine peso devalued by around 20% during December 2015, caused by the release of currency restrictions, meaning that currency can now flow freely in and out of Argentina.

For the remainder of the year, the revenues in sterling will be reduced by about 20% due to the peso devaluation effect, it added. 

Quick facts: Mobile Streams PLC

Price: 0.14 GBX

Market: AIM
Market Cap: £546.69 k

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