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IMIMobile India & SEA gross profit down 15% to £5M in FY15

The gross profit from India & South East Asia region for IMImobile declined by 15% to £5 million for year ended March 31, 2015 from £5.9 million from last year. IMImobile said that the profits continued to decline due to the implementation of TRAI's consumer protection guidelines for VAS fraud. "The continued decline is a direct consequence of the implementation of new consumer protection regulation that has impacted our customers, chiefly the mobile network operators," IMImobile said in its annual report. The total revenues from the region however increased 13% to £9.6 million for the financial year, from £8.5 million revenues last year. The region accounted for 19.63% of IMIMobile’s overall revenues which was at £48.9 million for the full year, up 13 % from last year. Operational highlights - Renewal of several major contracts including the BBC, a multi-national North African telecoms operator and a major motoring organisation. Note that IMImobile had deployed its mobile & social audience engagement platform DaVinci Social across BBC in July this year. BBC was expected to use the platform to manage its inbound and outbound audience interactions on its radio, TV and live events across SMS, MMS, E-mail, Facebook, Instagram and Twitter. - Acquisition and successful integration of TxtLocal Limited (TextLocal), trading well since acquisition in October 2014. - Listed on AIM in June 2014 raising net proceeds of approximately £7 million for the Company (after considering fees and the acquisition of the Group) to support significant growth opportunities. - Key new contracts signed in India and the company expects revenue benefit in FY16. Financials The adjusted profit after tax for the year stood at £5.6 million showing…

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