Bango plc has 'an excellent year'


22-05-2006

Bango plc has announced its preliminary Results for the year ending 31 March 2006.



'Last year was an excellent year in the development of Bango,' commented Ray Anderson, Chief Executive Officer. 'We have established a strong and scalable business

with a unique industry position.



'Our growth is accelerating and the market, although at an early stage, continues to develop in our favour.'



Bango has developed and deployed an open, global infrastructure platform that enables content providers to market, sell and deliver their products and services directly to mobile phone users on all mobile networks using the Internet.



'In the UK we continue to see strong growth in both content provider sign ups and end user spend,' continued Ray Anderson.



'In other territories, including the US, we are also seeing strong growth in content provider sign ups. However, we have experienced longer than expected lead times between a new content provider signing up and its marketing activity that drives end user spend. Accordingly we are lowering our expectations of the growth in end user spend outside the UK for the current financial year.



'We are in a strong financial position to capitalize on our growth opportunities and, working with mobile operators, content providers and brands, other commercial partners and investors, we look forward to continuing success in the coming years.'



Financial highlights (Comparative data for FYE 31 March '05)



  • Revenues grew 121% to 7.53m (3.41m).
  • Gross profit grew 125% to 2.19m (0.97m).
  • Operating expenses increased by 92% to 3.72m (1.93m) due to expansion into new territories, product development and increased marketing spend.
  • Pre-tax losses of 1.3m (0.9m) down to 17.7% of revenue (26.9%).
  • UK operation profitable and cash generative.
  • Successful IPO in June 2005 raising 6.21m (net of expenses) to support growth plans.



    Operational highlights



  • Content access (end user spend) fees more than doubled to 6.47m (2.90m)
  • Content provider (package) fees more than trebled to 1.00m (0.31m)
  • Customer base grown significantly to include: Channel 4, Sony BMG, The Sun and EMI.
  • Number of content providers spending over 5,000/yr increased by 250% since March 05.
  • Expansion successfully begun into US, Spain and Germany.
  • Number of partners increased from 3 to 14 leading to increased sales productivity.
  • Agreements signed with four mobile network operators: Orange, O2, Proximus and Cingular Wireless. Additional agreement with Telefonica signed post year end.





    About Bango



    Bango((AIM: BGO) has developed and deployed an open, global infrastructureplatform that enables content providers to market, sell and deliver theirproducts and services directly to mobile phone users on all mobile networksusing the mobile Internet. This 'direct-to-consumer' approach operates alongsidethe mobile operator's mobile portal.



    Leading mobile operators including CingularWireless, Vodafone, Orange, Telefonica and O2 work with Bango to accelerate thegrowth of their direct-to-consumer business.The Bango platform has given mobile phone subscribers around the world greateraccess to third-party content.



    Leading content brands are now using Bango'sservices to engage with their existing and potential mobile customers directly -irrespective of mobile operator. For further information, go to .





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    Contact Details:



    Bango plc Tel. +44 1223 472777

    Ray Anderson, CEO

    Peter Saxton, CFO





    ICIS Limited - Financial PR Tel. +44 20 7651 8688 Tom Moriarty

    Caroline Evans-Jones



    Panmure Gordon & Co Tel. +44 20 7459 3600

    Aubrey Powell

    Stuart Gledhill









    This information is provided by RNS

    The company news service from the London Stock Exchange
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