Mobile content provider Mobile Streams has been hit by tough markets and devalued currency in Argentina and it is trying to grow elsewhere.
In the nine months to March 2015, revenues fell from £38m to £24.5m and they are expected to be around £30m for the 12 month period. A full year profit of £740,000 is forecast.
The Argentina business is being stabilised and the Brazil subscriber base has moved past 50,000. There are plans to launch in India and Nigeria.
At 6.5p a share, Mobile Streams is valued at £2.41m. Net cash is expected to be around £2.9m at the end of June 2015.
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