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Mobile Streams

  • BY: Andrew Hore |
  • POSTED: 07/12/2012 |

Mobile content provider Mobile Streams has more than 2.5m active subscribers, up from 1.75m at the end of June.

Revenues were around 14m in the four months to October 2012 and trading is ahead of expectations. EBITDA is more than 1m. In the year to June 2012, revenues were 22m and underlying EBITDA was 2m.

The vast majority of revenues come from Latin America. Changes to the financial regime n Argentina made it difficult to transfer cash out of the country. The finance operations of the company are being moved to Argentina and a new finance director will be appointed. Mobile Streams has 94% of its cash of 1.8m in Argentina.

A provision of 120,000 has been made for potential German tax, although the claim is for more than that. The company had said that the liability could be up to 300,000.

At 19.25p a share, Mobile Streams is valued at 7.02m. The share price has declined by two-fifths in less than two months.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf

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