(MES.L) Messaging International PLC Buy/Sell

RNS Number : 7336B Messaging International Plc 02 November 2009

Messaging International Plc / Market: AIM / Epic: MES / Sector: Technology

2 November 2009

Messaging International Plc ('the Company')

TeleMessage Recognised at Deloitte Israel Technology Fast 50 Awards

Messaging International Plc, the AIM traded company and provider of converged messaging products and services, is pleased to announce that its 100% owned subsidiary, TeleMessage Ltd ('TeleMessage'), has been ranked 13th of the 50 fastest growing technology companies at the Deloitte Israel Technology Fast 50 Awards 2009 ('Fast 50 Awards'). This is the third consecutive year that TeleMessage has been recognised for its commitment to innovation and technology by the highly esteemed programme which has become a benchmark of success for technology companies.

The Deloitte Technology Fast 50 Award programme is an objective ranking of Israel's fastest growing technology companies, which recognises their contribution and ongoing commitment to the industry. To establish the ranking, Deloitte reviewed fiscal year revenues over five years (2004-2008), calculated the revenue growth percentage over the period and compared the growth of technology companies.

Messaging International CEO Guy Levit said, "To be included in Deloitte's programme for a third year is a significant achievement for TeleMessage as we continue to demonstrate our ability to maintain our growth in a highly competitive market. To receive recognition for our contribution to the technological sector acts as testament to the success of our messaging services and products which have been well received by major international mobile operators over the last 12 months."

Tal Chen, director in charge of the Deloitte Brightman Almagor Zohar Technology Fast 50 Programme, said, "Being one of the 50 fastest growing technology companies in Israel is an impressive accomplishment. We commend TeleMessage for making the Deloitte Technology Fast 50 with a phenomenal 693% growth rate over five years".

RNS Number : 9052Z
  Messaging International Plc
  30 September 2009
   

Messaging International Plc / Market: AIM / Epic: MES / Sector: Technology

30 September 2009
      Messaging International Plc

('Messaging International' or 'the Company')

Interim Results

Messaging International Plc, the AIM traded company and provider of converged messaging products and services, announces its results for the six months ended 30 June 2009.

Highlights

*     Steady trading with new partnerships agreed and existing alliances strengthened

*     Good pipeline of new business opportunities

*     Pre-tax loss of £173,224 (2008: loss £199,028) on turnover of £1,122,326 (2008: £727,697)

*     Progress expanding into new geographic territories including Russia, Western Europe and South America

*     Ongoing research and development - new services include a 'celebrity voices feature' for Text-to-Landline customers

Chairman's Statement
      

Trading during the first half of 2009 has been steady, having agreed new partnerships, strengthened existing alliances and generated a strong pipeline of new business opportunities. Our existing relationships with major international mobile operators, including the likes of Sprint Nextel, Rogers Wireless, Telus and Bell Canada, also continue to bear fruit as they adopt new add-ons to existing products and expand into new territories.  

Financial Results

The results for the six months ended 30 June 2009 show a pre-tax loss of £173,224 (2008: loss £199,028) on turnover of £1,122,326, which is a 54.2 per cent. increase on last year (2008: £727,697).

The Company's cash position as at 30 June 2009 was £297,669 (2008: £210,383).  

The board does not recommend the payment of an interim dividend.

Operations Review

Our blue-chip client base is undoubtedly impressive, however it is always difficult to gauge how much exact turnover each client will generate. Our relationship with Sprint Nextel ('Sprint'), for example, is very strong, with considerable revenue generated from this affiliation. Due to the popularity of our Text-to-Landline service with Sprint customers, we have launched various additional applications and features exclusively for these users such as the 'Record Your Name' personalisation feature and most recently, a celebrity voices feature whereby personalised messages can be delivered using top voice impersonators of Hollywood stars, which have proved very popular.  

We have made good progress branching out into new geographic territories and signing up additional corporate entities and telecom operators. Early in the year we launched our Text-to-Landline service with Uralsviazinform, considered as one of the four leading mobile operators in Russia. We also signed up various new enterprise customers including Zim, one of the largest global shipping companies, Ramada Hotels and a number of Israeli high schools.  

Our pipeline of new opportunities is strong. During the period we answered many requests for proposals in Europe and hope to convert several of these into new contracts having received positive feedback. We also conducted several trials with major Western European and South American operators, which we are particularly pleased about as they give us direct access into two of the largest mobile markets, where until now, we have only had a limited presence.  

We are constantly evolving and looking for new revenue streams to meet demand. Our research and development division therefore forms a major part of the business as we look to build and sustain competitive advantages. Importantly, to help us in this respect, in June 2009 the Company was approved for a further research project of approximately $250,000 from the Israeli Office of the Chief Scientist to mainly enhance our video streaming and download solutions.

Prospects

With more than half of the world now using mobile phones, mobile messaging is growing at a staggering rate and our Company is at the forefront of the industry. Importantly, we are increasingly being recognised by global mobile operators as a company which can deliver innovative, cost effective solutions to satisfy the needs of their customers. Looking forward, we are confident that this trend will carry on and that the numbers of users will continue to rise throughout the remainder of the year and beyond.  

H Furman

Chairman

29 September 2009

For further information visit www.telemessage.com or contact:
 Guy Levit          Messaging International Plc    Tel: + 972 3 9225252
 Mark Percy         Seymour Pierce Limited         Tel: +44 (0) 20 7107 8000
 Catherine Leftley  Seymour Pierce Limited         Tel: +44 (0) 20 7107 8000
 Susie Callear      St Brides Media & Finance Ltd  Tel: +44 (0) 20 7236 1177

Consolidated income statement for the six months ended 30 June 2009

                                               Unaudited                Unaudited                Audited
                                 Notes         six months               six months              year ended
                                                 ended                    ended                31 December
                                              30 June 2009             30 June 2008                2008
                                                   £                        £                       £
                                                                                          
 Revenues                          2                 1,122,326                   727,697             1,742,632
 Cost of revenue                                     (581,425)                 (361,980)             (822,712)
                                                                                          
 Gross profit                                          540,901                   365,717               919,920
                                                                                          
 Operating expenses                                                                       
 Research and development                            (182,266)                 (204,180)             (293,333)
 Sales and marketing                                 (296,251)                 (132,992)             (542,283)
 Administrative and general                          (216,124)                 (227,573)             (418,210)
 costs                                                                                    
                                                                                          
 Total operating expenses                            (694,641)                 (564,745)           (1,253,826)
                                                                                          
 Operating loss                                      (153,740)                 (199,028)             (333,906)
 Finance income                                              -                         -                    69
 Finance cost                                         (19,484)                         -              (33,430)
                                                                                          
 Loss before taxation                                (173,224)                 (199,028)             (367,267)
                                                                                          
 Taxation                          3                         -                         -                     -
                                                                                          
 Loss for the financial period                       (173,224)                 (199,028)             (367,267)
                                                                                          
                                                                                          
                                                                                          
 Loss per share                                                                           
                                                                                          
 Basic and diluted loss per                            (0.07)p                   (0.08)p               (0.15)p
 share                             4                                                      
                                                                                          
                                                                                          

Consolidated statement of comprehensive income for the six months ended 30 June 2009

                                               Unaudited               Unaudited               Audited
                                 Notes         six months              six months             year ended
                                                 ended                   ended               31 December
                                              30 June 2009            30 June 2008               2008
                                                   £                       £                      £
                                                                                        
 Exchange difference on                                 39,609                   (378)                74,438
 translation of foreign                                                                 
 operations                                                                             
                                                                                        
 Foreign exchange difference                                 -                       -               669,645
 arising from restating the                                                             
 carrying value of goodwill                                                             
 associated with foreign                                                                
 operations                                                                             
                                                                                        
                                                     (173,224)               (199,028)             (367,267)
 Loss for the period/year                                                               
                                                                                        
                                                                                        
 Total recognised income and                         (133,615)               (199,406)               376,816
 expense for the period/year                                                            
                                                                                        
                                                                                        

Consolidated Statement of financial position as at 30 June 2009

                                         Unaudited        Unaudited          Audited
                              Notes        as at            as at             as at
                                          30 June          30 June         31 December
                                           2009             2008               2008
                                             £                £                 £
                                                                       
 Non current assets                                                    
 Goodwill                                  3,906,262        3,236,617           3,906,262
 Tangible assets                              48,313           27,210              52,744
 Other investments                           118,927          107,500             135,330
                                           4,073,502        3,371,327           4,094,336
                                                                       
 Current assets                                                        
 Cash and cash equivalents                   297,669          210,383             300,653
 Trade and other receivables                 484,791          428,617             576,907
                                             782,460          639,000             877,560
                                                                       
 Total assets                              4,855,962        4,010,327           4,971,896
                                                                       
 Current liabilities                                                   
 Trade and other payables                  (288,235)        (307,088)           (382,856)
 Borrowings                                (165,830)                -           (109,282)
                                           (454,065)        (307,088)           (492,138)
                                                                       
 Non current liabilities                                               
 Borrowings                                 (96,879)                             (42,174)
 Provisions                                (145,772)        (121,000)           (165,879)
                                           (242,651)        (121,000)           (208,053)
                                                                       
 Total liabilities                         (696,716)       (428,088))           (700,191)
                                                                       
 Net assets                                4,159,246        3,582,239           4,271,705
                                                                       
                                                                       
                                                                       
 Share capital                             1,176,900        1,176,900           1,176,900
 Share premium account                     4,266,227        4,266,227           4,266,227
 Revenue reserves                        (2,033,194)      (1,826,131)         (1,881,126)
 Foreign exchange reserves                   749,313         (34,757)             709,704
                                                                       
 Shareholders' equity         5            4,159,246        3,582,239           4,271,705
                                                                       

Consolidated cash flow statement for the six months ended 30 June 2009
                                        Unaudited               Unaudited               Audited
                                        six months              six months             year ended
                                          ended                   ended               31 December
                                       30 June 2009            30 June 2008               2008
                                            £                       £                      £
 Cash flow from operating                                                        
 activities                                                                      
 Loss before taxation                         (153,740)               (199,028)             (333,906)
 Adjustments for:                                                                
 Share based payments                            21,156                 (2,389)                11,887
 Depreciation and amortisation                   12,234                   6,784                24,896
 Amortised finance costs                         19,201                       -                 4,790
 Foreign currency translation                    23,938                 (378)                  43,287
 adjustments                                                                     
                                                 76,529                   4,017                84,860
                                               (77,211)               (195,011)             (249,046)
 Operating cash flow before                                                      
 working capital movements                                                       
                                                                                 
 Decrease/(increase) in                          92,116                (48,007)             (196,297)
 receivables                                                                     
 (Decrease)/increase in                        (94,621)                 106,568               182,336
 payables                                                                        
 (Decrease)/increase in                               -                       -               (1,018)
 provisions                                                                      
                                                (2,505)                  58,561              (14,979)
                                                                                 
 Cash outflow from operating                   (79,716)               (136,450)             (264,025)
 activities                                                                      
                                                                                 
 Investing activities                                                            
 Interest paid                                 (19,484)                       -               (5,234)
 Purchase of tangible assets                   (14,195)                 (8,947)              (43,092)
 Investment                                           -                       -                12,946
 Net cash used in investing                    (33,679)                 (8,947)              (35,380)
 activities                                                                      
                                                                                 
 Financing activities                                                            
 Net borrowings                                 110,411                       -               244,278
 Net cash from financing                        110,411                       -               244,278
 activities                                                                      
                                                                                 
 Net decrease in cash and cash                  (2,984)               (145,397)              (55,127)
 equivalents                                                                     
                                                                                 
 Cash and cash equivalents at                   300,653                 355,780               355,780
 the beginning of the                                                            
 period/year                                                                     
                                                                                 
 Cash and cash equivalents at                   297,669                 210,383               300,653
 the end of the period/year                                                      

Notes to the interim report

For the six months ended 30 June 2009

1.    Basis of preparation and consolidation 
        

The financial information contained in the interim results has been prepared in accordance with International Financial Reporting Standards ('IFRS') as adopted by the European Union. It has been prepared in accordance with IAS 34 - Interim Financial Reporting and does not include all of the information required for full annual financial statements.

The financial information contained in these interim results for the six months ended 30th June 2009 and 30th June 2008 are un-audited. The comparative figures for the year ended 31st December 2008 do not constitute statutory financial statements of the group within the definition of S434 of the Companies Act 2006. Full audited accounts of the group in respect of that financial period prepared in accordance with IFRS, which we received an unqualified audit opinion have been delivered to Registrar of Companies.

The interim results have been drawn up using accounting policies and presentation consistent with those disclosed and applied in the annual report and accounts for the year ended 31 December 2008 except for the adoption of the following new and amended reporting standards, which are effective for periods commencing on or after 1 January 2009:

*     IAS1 (revised) - "Presentation of Financial Statements"

A new primary statement, "Consolidated Statement of Changes in Equity" is required containing information previously disclosed in the notes to the accounts. In addition, the Consolidated Statement of Recognised Income and Expense is replaced with the Consolidated Statement of Comprehensive Income, which may be shown separately or combined with the Income Statement.

*     IFRS8 - "Operating Segments" 

This standard replaces IAS14 - "Segment Reporting" which required operating segments to be analysed into Primary (business) and Secondary (geographical) segments. IFRS8 requires that operating segments should be aligned with those reviewed by the "Chief Operating Decision Maker" which is considered to be the Board of Directors. 

Various other amendments to standards and interpretations of standards are effective for periods commencing on or after 1 January 2009 as detailed in the 2008 Annual Report, none of which have any impact on reported results.

The accounting policies used in the interim statement are consistent with those used in the financial statements for the year ended 31 December 2008 and are in accordance with International Financial Reporting Standards. 

The consolidated income statement and balance sheet include the financial statements of the Company and its subsidiary undertakings up to 30 June 2009.

2.  Turnover
                            Unaudited                Unaudited                 Audited
                            six months               six months               year ended
                              ended                    ended                 31 December
                           30 June 2009             30 June 2008                 2008
                                £                        £                        £
                                                                       
 North America                      980,939                   528,410               1,246,099
 Rest of the World                  141,387                   199,287                 496,533
                                  1,122,326                   727,697               1,742,632
                                                                       

3    No provision has been made for taxation as the group has losses available to carry forward against future trading profits. No deferred tax asset has been recognised in accordance with International  Accounting Standard 12.

4.   Basic and diluted loss per share

The calculation of the loss per ordinary share is based on the loss after taxation for the six month   period     to 30 June 2008 of £173,224 (2008: £199,028) and 235,380,000 ordinary shares being the weighted    verage number of shares in the period. (2008: 235,380,000).

 

5.     Movement to shareholders' equity

                                        Unaudited                Unaudited                   Audited
                                        six months               six months                Year ended
                                          ended                    ended                31 December 2008
                                       30 June 2009             30 June 2008       
                                            £                        £                          £
                                                                                   
 Loss for the period                          (173,224)                 (199,028)                  (367,267)
 Foreign Exchange reserves                       39,609                     (378)                    744,083
 movements                                                                         
 Equity settled share based                      21,156                   (2,389)                    110,855
 payments                                                                          
                                              (112,469)                 (201,795)                    487,671
 Equity at the beginning of the               4,271,705                 3,784,034                  3,784,034
 period                                                                            
 Equity at the end of the                     4,159,246                3,582,239                   4,271,705
 period                                                                            

This information is provided by RNS
The company news service from the London Stock Exchange
 
  END 
 
IR SEWFWUSUSESU

RNS Number : 7040X Messaging International Plc 19 August 2009

Messaging International Plc / Market: AIM / Epic: MES / Sector: Technology

19 August 2009

Messaging International Plc

('Messaging International' or 'the Company')

Trading Update & Notice of Results

Messaging International Plc, the AIM traded provider of innovative messaging services, is pleased to announce that it continues to trade in line with management expectations. As detailed in the Final Results for the year ended 31 December 2008 announced on 30 June 2009, the Company continues to strengthen current partnerships and customer relationships and forge new alliances with mobile operators. Its Interim Results for the six months ended 30 June 2009 will be announced by the end of September 2009.

LONDON, August 19 (Reuters) - Communications technology company Messaging International on Wednesday poured cold water on market speculation it was on the verge of announcing a deal with Apple.
Shares in Messaging International surged more than 250 percent to levels not seen since late 2006 with trading volumes the highest since early 2007 and at more than 100 times their 30-day rolling average.
"There's various comments about Apple. To our knowledge there's no evidence (of a deal)," said a spokeswoman for the company which based on Tuesday's closing price had a market value of just 1.18 million pounds ($1.94 million).
On the Interactive Investor bulletin board, private investors were discussing whether the company would be signing an agreement with software giant Apple.
"Maybe someone ... on a website got the rest of the punters excited, but I've seen no reason for them (the shares) to go better at all," says a trader at Winterfloods.
Shares in the company were up 155 percent at 1.215 pence by 1156 GMT having earlier risen as high as 1.775 pence and to their highest level since November 2006.
(Reporting by Ben Deighton, editing by Paul Hoskins) ($1=.6073 Pound) Keywords: MESSAGINGINTERNATIONAL/

(ben.deighton@thomsonreuters.com; +44 20 7542 5331; Reuters messaging: rm://ben.deighton.thomsonreuters.com@reuters.net)

COPYRIGHT

Copyright Thomson Reuters 2009. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.