More than doubled revenues from Thailand was behind the growth in group revenues at mobile messaging platform operator Macromac.
In the six months to June 2014, revenues were 29% higher at RM12.9m, while pre-tax profit rose 48% to RM4.3m. Earnings per share were 42% ahead at 4.23 sen. Malaysian revenues were flat and here is little likelihood of this changing in the short-term. Management is assessing a potential Malaysian acquisition which will enable it to deliver third party content and improve margins.
There was an initial contribution from June’s acquisition Smile Interactive, which will help to grow Thai revenues even faster in the second half.
Macromac has signed a partnership agreement with a subsidiary of InternetQ, which opens up connections with up to 57 countries. Macromac will target the countries with the best prospects.
At 20p a share, Macromac is valued at £20.1m.
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