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

cmn_IMImobile

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 a growth of  47.36% from 3.8 million last year. However on a statutory basis the Group made a loss after tax of £3.4m in the year ended  31 March 2015 compared to £3.9 million profit last year, after charging £7.3 million of share based payment expense and £1.6 million of non-recurring IPO and acquisition related costs. The EBITDA grew by 27% to £9.2 million from £7.2 million last year. Gross profit grew by 8% to £30 million from £27.9 million.

IMImobile financials

Europe operations

Gross profit from Europe grew by 43% to £15.7 million from £10.9 million last year. The total revenues grew by 28% to £27.2 million, from £21.1 million  last year. IMImobile says the growth in the region comes from a combination of new client wins across mobile operator, retail and gambling and gaming sectors and upsell and cross sell to existing customers.

Middle East and Africa operations

Gross profit from Middle East & Africa (MEA) region declined by 19% to £8.6 million for financial year, from £10.7 million last year. The total revenues also declined 15% to £11.3 million for the period, from £13.3 million  last year.

IMImobile says it has secured number of new operator contracts during this six month period and has scheduled deployments throughout the second half of the year.

 

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