Mobile Tornado Group PLC Full Year Trading Update (2270A)
01 Février 2022 - 7:59AM
UK Regulatory
TIDMMBT
RNS Number : 2270A
Mobile Tornado Group PLC
01 February 2022
This announcement contains Inside Information for the purposes
of Article 7 of EU Regulation 596/2014 (which forms part of
domestic UK law pursuant to the European Union (Withdrawal) Act
2018). Upon the publication of this announcement this Inside
Information is now considered to be within the public domain.
1 February 2022
Mobile Tornado Group plc
("Mobile Tornado", the "Company" or the "Group")
Full Year Trading Update
Mobile Tornado (AIM: MBT), a leading provider of resource
management mobile solutions to the enterprise market, announces a
trading update ahead of the publication of its audited results for
the year ended 31 December 2021, which are expected to be announced
during the week commencing 28 March 2022.
The Directors currently expect unaudited revenues for the six
months to 31 December 2021 to be approximately GBP1.29m with an
approximate EBITDA loss of GBP30k. As a result, based on unaudited
management accounts and subject to audit, full year revenues for
2021 are expected to be approximately GBP2.52m with an EBITDA* loss
of approximately GBP20k.
Despite the continuing impact of COVID-19 across all of the
Group's main markets during 2021, the Directors are pleased to
report that the Group's recurring revenues remained stable at
approximately GBP2.07m (2020: GBP2.04m). Non-recurring revenues
were approximately GBP0.45m compared to GBP0.49m in 2020. The
Company has delivered further efficiencies in operations, driven by
the continuing performance improvements of its technical platform,
which has resulted in total operating expenses falling to
approximately GBP2.47m in the year 2021 from GBP2.72m in 2020.
As detailed in the interim results announced in September 2021,
the Company has developed a comprehensive resource management
solution, combining the current Push to Talk ('PTT') application
with workforce management functionality ('WFM') and mobile device
management ('MDM'). The target market will continue to be
businesses with remote workforces, but initially the focus will be
on the security, hospitality and public utility verticals. The
Board is pleased to report that the resource management solution
has been launched to a number of customers and the feedback
received to date has been very positive. The Company's website has
been relaunched to better capture the broader service offering and
the Board look forward to making further advances with new partners
and customers during the 2022 financial year.
The Board were disappointed to lose the customer in Canada, as
announced on 1 December 2021. The loss of this customer has created
a shortfall as the Company moves into the new financial year and
the Directors and employees are working hard to bridge this gap,
through further operational efficiencies, and renewed efforts to
close out deals that have stalled as a result of the disruption
caused by COVID-19 related restrictions in the Group's key markets.
The Company is also exploring new routes to market, to ensure that
its enhanced proposition is given the opportunity to deliver its
full potential. The Board will update further on these initiatives
when the Company reports its full year results at the end of March
2022.
*EBITDA refers to earnings before interest, tax, depreciation,
amortisation and exchange rate gains or losses
Enquiries:
Mobile Tornado Group plc +44 (0)7734 475 888
Jeremy Fenn, Chairman www.mobiletornado.com
Allenby Capital Limited
(Nominated Adviser & Broker) +44 (0)20 3328 5656
James Reeve / Piers Shimwell (Corporate
Finance)
David Johnson (Sales and Corporate Broking)
Walbrook PR Ltd +44 (0)20 7933 8780
Paul Vann/Nick Rome mobiletornado@walbrookpr.com
About Mobile Tornado
Mobile Tornado is a leading provider of Resource Management
solutions combined with critical communications for Tier 1 mobile
operators and solution providers. The Company's range of solutions
include Instant Talk, Instant Locate, Instant Alert and Instant
Message as well as an advanced Dispatch Console. These services
have been supplemented by a sophisticated suite of tools to manage
employees and other assets, while reducing manual tasks and
lowering cost of ownership.
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END
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February 01, 2022 01:59 ET (06:59 GMT)
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