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| Bango gets big share boost |
| Written by Business Weekly | |
| Tuesday, 30 January 2007 | |
|
Cambridge-based mobile phone content provider, Bango has seen a 20 per cent jump in its share price following a trading update.
The firm has signed numerous new contracts in the recent months, including adding Vodaphone and Orange in Spain to its books and it expects to see a significant increase in revenue, but not until the year's end. Bango expects to see total revenues for the year end in excess of £10m and net revenues to increase to £2.75m, the firm said. The company also said that the move toward leveraging its technology and partnerships to reduce selling and marketing costs is starting to bear fruit. "Bango is now on course towards our goal of operating break-even and neutral cash flow, with the move towards profitability being underpinned by a recurring revenue model, and potentially accelerated by the activity of larger customers," said chairman, Lindsay Bury. Bango's shares rose 9.5p, or 19.39 per cent to 58.5p following the update. |
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