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Mobile Streams posts loss as sale fall in Argentina
StockMarketWire.com
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Content provider to mobile devices Mobile Streams posted a full-year loss after its revenue more than halved.
Pre-tax losses for the year through June amounted to £1.56 million, compared to losses of £0.57 million year-on-year.
Revenue fell to £0.64 million, down from £1.34 million.
Mobile Streams said market conditions in Argentina in particular, the peso devaluation, had an adverse effect on revenues, leading to increased losses.
As a result of the reductions in revenue, a comprehensive cost-cutting programme was undertaken during the year.
Story provided by StockMarketWire.com
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