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Bango

  • BY: Andrew Hore |
  • POSTED: 06/12/2009 |

Bango reduced its loss in the six months to September 2009 thanks to strong growth in the US.

Bango‘s technology enables content providers to market and deliver content over mobile phones using mobile internet. Revenues jumped 83% to £12.3m, while the pre-tax loss declined from £592,000 to £242,000.

Revenues from Europe and the rest of the world declined, whereas revenues from North America almost quadrupled to £9.38m.

Bango is about to sign Verizon up to its services.Verizon is the number one mobile network in the US. This means that Bango will be servicing all the top five mobile networks and provides scope for further growth.

There was a cash outflow exacerbated by £371,000 of capitalised development spending. Net cash has fallen from £682,000 to £144,000 in the six month period. 

At 47p a share, Bango is valued at £13.4m. 

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