Listed mobile firm reports ‘good’ second half trading but prepares for losses

Mobile Tornado, which provides communication mobile applications to the enterprise market, expects to report a loss in revenue for the last financial year despite ‘good’ second half trading in 2018.

In a trading update issued this morning for six months to December 31 2018, the listed Harrogate-based firm said that trading in the second half of the year, and therefore for the full year, was “in line with the Board’s expectations.”

Mobile Tornado experienced a “good trading performance” during the second half of the year, resulting in a “significant improvement” in adjusted EBITDA loss compared to the first six months.

The firm said that the improved second half to the year was spearheaded by progress in relation to a recent contract win with a Mobile Network Operator in Israel. During this period, the company also delivered enhancements to a number of product offerings, including the dual redundant server platform. 

Jeremy Fenn, chairman of Mobile Tornado, said: “Given the momentum generated in the second half of 2018, the Board is optimistic and excited about the opportunities that lie ahead in 2019.

“Our significant and continued investment in the technical platform has begun to pay off. We have the only carrier grade end-to-end instant communication solution that works over any IP Network, transitioning seamlessly across 2G, 3G, 4G and Wi-Fi.

“Along with the additional enhancements described below, we are now engaging with multiple enterprises and Government agencies who are attracted to the robustness, flexibility and functionality of our platform.”

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