Mobile content firm says profits up 125%
Bango, the mobile content enabler, has reported a 121% increase in revenues up to £7.53 million and 125% increase in gross profits up to £2.19 million in its preliminary results ending 31 March 2006. This follows the company’s IPO in June 2005 that raised £6.21 million.
Bango says the results reflect the growing appetite for mobile content, claiming that the number of content providers spending over £5,000 per year with Bango increased by 250% since March 05.
Bango has also expanded its operations in the US, Spain and Germany and signed agreements with four mobile network operators between April 2005 and March 2006: Orange, O2, Proximus and Cingular Wireless along with Telefónica that was announced earlier this month.
“Last year was an excellent year in the development of Bango,” says Ray Anderson, CEO at Bango. “We have established a strong and scalable business with a unique industry position. Our growth is accelerating and the market, although still at an early stage, continues to develop in our favour.
“In the UK we continue to see strong growth in both content provider sign ups and end user spend. In other territories, including the US, we are also seeing strong growth and we are working with mobile operators, content providers and brands, other commercial partners and investors, to build on this success.”
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