(MBT) Mobile Tornado
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| 28-09-11 | RNS |
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RNS Number : 0502P Mobile Tornado Group PLC 28 September 2011 Mobile Tornado Group plc
("Mobile Tornado" or the "Company") Interim Results
Introduction
Mobile Tornado Group plc, the leading provider of mobile applications to the enterprise market, announces its unaudited results for the six month period to 30 June 2011.
Financial Results
Turnover in the six month period to 30 June 2011 amounted to £885,000 (30 June 2010: £618,000). Group operating loss reduced significantly to £499,000 (30 June 2010: £1,044,000 loss). After finance costs of £189,000 (30 June 2010: £157,000) and a tax credit of £122,000 (30 June 2010: £nil) the net loss for the period was £566,000 (30 June 2010: £1,201,000). The net cash outflow from operating activities at £172,000 was broadly similar to the previous year at £176,000.
The Group consolidated balance sheet shows net liabilities at 30 June 2011 of £10,823,000 compared to net liabilities of £9,905,000 at 30 June 2010. Cash at bank was £14,000 at 30 June 2011 compared to £39,000 at 30 June 2010. The Directors believe that the Group has sufficient working capital for the foreseeable future given its contracted revenue, anticipated contracts and continued support from its principal shareholder, InTechnology plc.
Review of operations
It is very pleasing to report another 6 months of solid progress across the business. This has been reflected in the financial results for the period, with sales increasing by 43% on the same period last year, and operating losses more than halving. As I have reported in previous statements, we are seeing an increasing interest in our proposition from businesses around the world, but it is extremely gratifying to see this interest converting to sales and cashflow.
The deals we concluded during the period demonstrate the strength of our proposition in the global market and the multiple channels through which it is being deployed.
During the first half, we announced a distribution agreement with Pocket Mobile, a major supplier of B2B mobile enterprise solutions in the Nordic region, where we provide instant voice services to Pocket Mobile's existing PreCom platform. By integrating our instant communication application onto Pocket Mobile's own workforce management solution, they are able to offer their customers an enhanced proposition, greatly enhancing their platform's functionality and value to the end user. G4S, a major global security company has started to equip its own workers with the solution, with engagement in Denmark, Sweden and Finland. Having now installed local servers in each of these countries, we now look forward to increased penetration of G4S, and their own customers.
One of our principal strategic objectives is to engage with companies similar to Pocket Mobile, and integrate our Instant Communications platform with their own workforce management solution. The merits of this type of deal are compelling; our partner gets the opportunity to sell an integrated communication platform to their customer base, whilst we get access to a ready supply of customers receptive to solutions that deliver them even greater efficiency. The Crimson Tide deal we signed in July fits these criteria, and they are now selling their solution with our Instant Communications application as an option. Further evidence that the efforts we are making in this area are bearing fruit, comes with our deal with Honeywell Scanning and Mobility, which was completed recently.
Honeywell is one of the major global suppliers of handheld devices and works closely with workforce management solution providers who use Honeywell hardware to deploy their software into the market. The deal we have completed puts us at the heart of their software vendor community as we have agreed to offer our proposition through their ISV Store (www.isvstore.com). This is a multi-vendor site dedicated to helping end users identify the software applications that best fit their business needs. Our solution is being promoted as one that allows the removal of multiple communication devices such as two-way radios and panic alert devices, as all field worker requirements are converged into one Honeywell device. To secure this deal is not only a testimony to the quality of our solution, but also to the trends we are seeing in the marketplace. As enterprises deploy ever more sophisticated software solutions to enhance the efficiency of their workforces, they will demand a more appropriate communication solution to work alongside. We are already engaged with a number of Honeywell's ISVs and I look forward to converting these discussions into further commercial deals in coming months.
The developing economies are another area where we have been focusing sales resources. We were pleased to agree an exclusive relationship with Neco in South Africa, who have set up a separate business to exploit our solution in their rapidly developing market. We also announced in July, a partnership agreement with Investro Group to provide our instant communication applications to the enterprise and mobile operator market in Guatemala. The service will be launched on Claro, the leading provider of telecommunication services in Central America. This deal has raised our profile in this market and further discussions are in progress with potential partners in Mexico and Brazil.
We concluded a deal with one of the major mobile operators in Israel, for an initial 10,000 licenses. This deal also included the delivery of our Android client, and I am pleased to report that this service will be launched in Israel during the final quarter. We anticipate, based on marketing analysis that there will be additional orders for licenses once the initial batch has been deployed.
Current trading and future prospects
The trends that I highlighted in our full year announcement in May are still the main drivers for our business. The rapid penetration of smartphones in the consumer market has now shifted to the enterprise space with the likes of Motorola, Intermec and Honeywell delivering more compact, smarter devices into the market. Advanced features such as GPS functionality have enabled more feature rich services and allowed software companies to develop ever more sophisticated applications to enhance productivity in the workforce. The one feature that an increasing number of enterprises are now demanding is a more effective way to communicate than the traditional phone. Alongside a desire to converge all applications onto one device, we are therefore seeing increasing demand for the Instant Talk application that sits at the core of our proposition.
The closest competing technology for our solution is Private Mobile Radio ('PMR') solutions with TETRA being the best known. PMR is a heavy duty, costly network designed for near universal coverage and availability, with very quick call set up and group communications. A mobile data based solution such as ours is unlikely to displace PMR for the emergency services and other critical users. However, given the pressures on public sector budgets throughout the world, we are seeing an increasing interest in our solution as a complement to existing platforms, given the need to make significant cuts in spending. In addition, there are certain countries that have not yet deployed PMR platforms in country, and who are now actively considering the alternatives, given the relative cost benefits. We hope to capitalise on these emerging trends and will update shareholders as they progress.
I have always believed that the Company has developed an outstanding communication platform. We have had to be extremely patient but it would now appear that market trends are moving in our direction, evidenced by the improving financial performance and by the quality of customers and partners that we are now engaged with. Our team will continue to work hard to deliver this potential for our shareholders and I look to the future with confidence.
Peter Wilkinson Chairman 28 September 2011
For further details please contact:
Consolidated income statement For the six months ended 30 June 2011
Consolidated statement of comprehensive income For the six months ended 30 June 2011
Consolidated statement of changes in equity For the six months ended 30 June 2011
Consolidated balance sheet As at 30 June 2011
Consolidated cash flow statement For the six months ended 30 June 2011
Notes to the interim report For the six months ended 30 June 2011 1 General information
The financial information set out in this announcement is unaudited and does not constitute statutory accounts within the meaning of section 434 of the Companies Act 2006. The comparative numbers for the year ended 31 December 2010 have been extracted from the audited accounts which have been filed at Companies House and which carried an unqualified audit report with no statement under section 498 (2) or (3) of the Companies Act 2006.
2 Basis of preparation
These interim financial statements are for the six months ended 30 June 2011. They have been prepared using the recognition and measurement principles of IFRS.
The interim financial statements have been prepared under the historical cost convention.
The interim financial statements have been prepared in accordance with the accounting policies adopted in the last annual financial statements for the year ended 31 December 2010. The accounting policies have been applied consistently throughout the Group for the purpose of preparation of the interim financial statements.
3 Loss per share
Basic loss per share is calculated by dividing the loss attributable to ordinary shareholders of £566,000 (30 June 2010: £1,201,000, 31 December 2010: £1,569,000) by the weighted average number of ordinary shares in issue during the period of 184,953,708 (30 June 2010: 184,953,708, 31 December 2010: 184,953,708).
The adjusted basic loss per share has been calculated to provide a better understanding of the underlying performance of the Group as follows:
The loss attributable to ordinary shareholders and the weighted average number of ordinary shares for the purpose of calculating the diluted earnings per ordinary share are identical to those used for basic earnings per ordinary share. This is because the exercise of share options are anti-dilutive under the terms of IAS 33.
4 Share capital and share premium
Non-voting preference shares
The above preference shares were issued at par and are classified as debt and therefore shown within creditors. 5 Cash used in operations
6 Shareholder information
The interim announcement will be published on the company's website www.mobiletornado.com on 28 September 2011.
This information is provided by RNS The company news service from the London Stock Exchange More |
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| 31-08-11 | RNS |
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RNS Number : 2722N Mobile Tornado Group PLC 31 August 2011 Mobile Tornado plc (the "Company") 31 August 2011 Holding in Company
The Company announces that it was notified on 23 August 2011 that following the sale of 700,000 shares by Mr John Swingewood on 8 August 2011 Mr Swingewood now holds 6,758,632 ordinary shares in the Company equating to 4.94 per cent of the issued share capital.
For more information about Mobile Tornado visit www.mobiletornado.com.
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For further information, contact:
This information is provided by RNS The company news service from the London Stock Exchange More |
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| 20-07-11 | RNS |
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RNS Number : 6702K Mobile Tornado Group PLC 20 July 2011 Mobile Tornado plc
("Mobile Tornado" or "The Company")
STRATEGIC PARTNERSHIP WITH CRIMSON TIDE PLC
Mobile Tornado plc is pleased to announce that it has entered a strategic partnership with AIM listed Crimson Tide plc ("Crimson Tide", AIM: TIDE), a leading provider of mobile business applications. Crimson Tide will initially act as a reseller of its Instant Talk mobile application, although the companies anticipate the partnership expanding whereby Mobile Tornado's instant communication applications will be directly incorporated in future releases of Crimson Tide's workforce management solutions.
Mobile Tornado's applications will give Crimson Tide's subscribers the ability to talk directly to head office, co-workers or dispatchers immediately from within their application. The multichannel nature of communications for voice, instant messaging and tracking will allow customers to optimise their field operations, enabling effective and instant communication.
The two companies believe that there may also be opportunities for Mobile Tornado to introduce the Crimson Tide workforce management application to certain international partners.
Barrie Whipp, Executive Chairman of Crimson Tide, commented: "The ability to add instant voice, messaging and presence communications to our solutions gives us enhanced revenue possibilities whilst giving our customers the greatest complete solution and flexibility possible for managing their field workforce. Mobile Tornado's solution fits ideally with our own IP based communications and we look forward to a long and successful partnership."
Jeremy Fenn, Chief Executive Officer of Mobile Tornado commented: "We are delighted to be working with Crimson Tide, a Company at the forefront of developments in mobile business applications. Their solutions replace the paper based processes that field operatives perform, increasing the effectiveness of remote workforces and delivering significant cost savings. Further savings can be delivered through the adoption of an appropriate communication platform and I am confident that Crimson Tide's customers will generate even greater efficiencies through the introduction of Instant Talk into their businesses. '
About Crimson Tide
Crimson Tide is a mobile software group with offices in Tunbridge Wells, UK and Dublin, Ireland.
Crimson Tide supplies Mobile Apps for Business including a smartphone, software and all services on a monthly subscription basis. Its mpro apps provide everything people working out of the office need to do their job more effectively. Subscribers range from Blue chips to small enterprises and government institutions and incorporate facilities management, nursing, logistics and patient solutions.
About Mobile Tornado Mobile Tornado Group (AIM: MBT) specialises in the provision of Instant Communications applications for mobile devices, with a focus on enterprise workforce management. The company's three main applications are Instant Talk, Instant Locate and Instant Alert, enabling organisations to communicate with their employees more effectively and cost efficiently than conventional mobile services and competing private mobile radio solutions. By equipping their workforce with conventional mobile handsets and MBT applications, a company can communicate with one or many employees simultaneously, track employee locations, and immediately be alerted of major issues.
MBT's patented Internet Protocol Radio Service (IPRS) technology has been successfully deployed in networks around the world. The suite of IP-based, OMA standards-compliant, services provide real time, 'always-on', bandwidth-efficient communications across a range of mobile networks and devices, including compatibility with forthcoming LTE (Long Term Evolution) 4G mobile networks. Its technical and cost performance is superior to many competing services and technologies, as is being validated in the marketplace. Mobile Tornado is 49% owned by InTechnology Group plc, the UK's leading Managed Data and Communication Services Group. With its headquarters in the UK, Mobile Tornado has offices in the UK, Israel, India and China. For more information about Mobile Tornado visit www.mobiletornado.com
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RNS Number : 6656K Crimson Tide PLC 20 July 2011 20th July 2011 CRIMSON TIDE plc ("CRIMSON TIDE" or "The Company") STRATEGIC PARTNERSHIP WITH MOBILE TORNADO Crimson Tide plc is pleased to announce that it has entered a strategic partnership with AIM listed Mobile Tornado plc ("Mobile Tornado", AIM: MBT), a leading provider of instant communication mobile apps for business. Mobile Tornado's apps offer a new way to communicate over smartphones and pdas and Crimson Tide will initially act as a reseller of its Instant Talk mobile application. The companies anticipate the partnership expanding whereby Mobile Tornado's instant communication applications will be directly incorporated in future releases of Crimson Tide's mpro solutions. Mobile Tornado's applications will give mpro subscribers the ability to talk directly to head office, co-workers or dispatchers immediately from within their mpro application. The multichannel nature of communications for voice, instant messaging and tracking will allow mpro customers to optimise their field operations, enabling effective and instant communication. Mobile Tornado's footprint is global and the two companies believe that there may also be opportunities for Mobile Tornado to introduce enhanced workforce apps using the mpro platform, to certain international partners. Barrie Whipp, Executive Chairman of Crimson Tide, commented: "The ability to add instant voice, messaging and presence communications to our mpro solutions gives us enhanced revenue possibilities whilst giving our customers the greatest complete solution and flexibility possible for managing their field workforce. Mobile Tornado's solution fits ideally with our own IP based communications and we look forward to a long and successful partnership." Jeremy Fenn, Chief Executive Officer of Mobile Tornado commented: "We are delighted to be working with Crimson Tide, a Company at the forefront of developments in mobile business applications. Their solutions replace the paper based processes that field operatives perform, increasing the effectiveness of remote workforces and delivering significant cost savings. Further savings can be delivered through the adoption of an appropriate communication platform and I am confident that Crimson Tide's customers will generate even greater efficiencies through the introduction of Instant Talk into their businesses." - Ends -
For further information, contact:
About Crimson Tide Crimson Tide is a mobile software group with offices in Tunbridge Wells, UK and Dublin, Ireland.
Crimson Tide supplies Mobile Apps for Business including a smartphone, software and all services on a monthly subscription basis. Its mpro apps provide everything people working out of the office need to do their job more effectively. Subscribers range from Blue chips to small enterprises and government institutions and incorporate facilities management, nursing, logistics and patient solutions. About Mobile Tornado Mobile Tornado Group (AIM: MBT) specialises in the provision of Instant Communications applications for mobile devices, with a focus on enterprise workforce management. The company's three main applications are Instant Talk, Instant Locate and Instant Alert, enabling organisations to communicate with their employees more effectively and cost efficiently than conventional mobile services and competing private mobile radio solutions. By equipping their workforce with conventional mobile handsets and MBT applications, a company can communicate with one or many employees simultaneously, track employee locations, and immediately be alerted of major issues.
MBT's patented Internet Protocol Radio Service (IPRS) technology has been successfully deployed in networks around the world. The suite of IP-based, OMA standards-compliant, services provide real time, 'always-on', bandwidth-efficient communications across a range of mobile networks and devices, including compatibility with forthcoming LTE (Long Term Evolution) 4G mobile networks. Its technical and cost performance is superior to many competing services and technologies, as is being validated in the marketplace. Mobile Tornado is 49% owned by InTechnology Group plc, the UK's leading Managed Data and Communication Services Group. With its headquarters in the UK, Mobile Tornado has offices in the UK, Israel, India and China. For more information about Mobile Tornado visit www.mobiletornado.com
This information is provided by RNS The company news service from the London Stock Exchange More |
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Here is to a good 2012.
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Top 100 performers - 2011
HOW MANY OF YOUR STOCKS ARE ON THIS LIST? Four of my favourites are there including No. 28 VALiRx, which completely took me by surprise! http://uk.finance.yahoo.com/news/aim-stocks-once-again-dominate-102943327.html -------------- The Mail.. ....Some interesting and relevant articles from the Mail On Sunday re- The economy, shares, interest rates...what next for 2012? --------------- Markets/Eurozone Crisis http://www.dailymail.co.uk/money/markets/article-2078156/AIM-market-hit-eurozone-crisis-investors-prefer-play-safe.html ---------------- Credit Crunch-warning http://www.dailymail.co.uk/money/news/article-2078467/Credit-crunch-How-protect-money-experts-warn-real-possibility.html ---------------- The Next Recession http://www.dailymail.co.uk/money/news/article-1616085/Economy-watch-Is-Britain-heading-recession.html ---------------- Interest Rates-predictions http://www.dailymail.co.uk/money/news/article-1607881/Interest-rates-News-predictions.html ---------------- where next for shares in 2012 http://www.dailymail.co.uk/money/investing/article-1619305/Stock-market-predictions-What |
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Yes, thats what I thought the technology was amazing. Having been speaking with one of the directors back in 2007 he explained PTT and I thought it was a worth investing in. Only time will tell. I got burnt with Intechnology when they bought back the company from Pi's and these are the same team.
I hope it works out for all of us. Mav |
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Maybe they will not get the crazy valuation of some US internet/technology stocks but it does seem these kind of shares do get ridiculous valuations.The technology seems amazing...
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They have not been approved or issued by Interactive Investor Trading Limited.
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