Mobile content and services provider Mobile Streams will report reduced revenues in the year to June 2014.
The 50% decline in the value of the Argentine peso against the dollar hit revenues as 84% of them were in Argentina. Revenues fell from £53.9m to £47m. The EBITDA will be significantly lower than the previous year. There was cash of £2.9m at the end of June 2014 and most of it is outside of Argentina. Mobile internet active subscribers increased from 3.4m to 4.5m over the year.
The customer base is being diversified into additional Latin American countries. There could also be opportunities in Asia, Africa and India.
At 18.13p a share, Mobile Streams is valued at £6.7m.
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